CymaBay Therapeutics Inc (CBAY) Receives Average Rating of “Buy” from Brokerages
Shares of CymaBay Therapeutics Inc (NASDAQ:CBAY) have earned an average recommendation of “Buy” from the twelve brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $21.88.
CBAY has been the subject of a number of recent analyst reports. Raymond James began coverage on CymaBay Therapeutics in a research note on Thursday, June 28th. They issued an “outperform” rating and a $20.00 price objective for the company. Zacks Investment Research downgraded CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. BidaskClub downgraded CymaBay Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Cantor Fitzgerald reiterated a “buy” rating and issued a $16.00 target price on shares of CymaBay Therapeutics in a research report on Thursday, August 9th. Finally, Oppenheimer set a $20.00 target price on CymaBay Therapeutics and gave the stock a “buy” rating in a research report on Thursday, August 9th.
In other news, CEO Sujal Shah bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were bought at an average cost of $9.90 per share, for a total transaction of $49,500.00. Following the completion of the transaction, the chief executive officer now owns 100,000 shares of the company’s stock, valued at $990,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is currently owned by insiders.
Shares of NASDAQ CBAY traded down $0.18 during mid-day trading on Friday, reaching $10.81. The company’s stock had a trading volume of 274,923 shares, compared to its average volume of 866,075. The firm has a market cap of $654.30 million, a price-to-earnings ratio of -13.68 and a beta of 2.01. CymaBay Therapeutics has a 52 week low of $7.63 and a 52 week high of $15.59.
CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings data on Friday, August 10th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). On average, sell-side analysts forecast that CymaBay Therapeutics will post -1.19 earnings per share for the current fiscal year.
About CymaBay Therapeutics
CymaBay Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and providing therapies to treat liver and other chronic diseases. Its lead product candidate is seladelpar, a selective agonist of peroxisome proliferator-activated receptor delta, which has completed Phase II clinical study for the treatment of primary biliary cholangitis, as well as patients with nonalcoholic steatohepatitis.
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