Evercore ISI Reiterates Buy Rating for CymaBay Therapeutics (NASDAQ:CBAY)

CymaBay Therapeutics (NASDAQ:CBAY)‘s stock had its “buy” rating reaffirmed by research analysts at Evercore ISI in a report released on Wednesday, AnalystRatings.com reports. They currently have a $15.00 price objective on the biopharmaceutical company’s stock. Evercore ISI’s price target points to a potential upside of 152.10% from the company’s previous close.

Several other analysts also recently weighed in on CBAY. Oppenheimer set a $12.00 target price on shares of CymaBay Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Zacks Investment Research downgraded shares of CymaBay Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. HC Wainwright reissued a “buy” rating and set a $12.00 target price (down previously from $24.00) on shares of CymaBay Therapeutics in a research report on Wednesday, June 12th. Citigroup dropped their target price on shares of CymaBay Therapeutics from $21.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. Finally, ValuEngine raised shares of CymaBay Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $14.09.

Shares of CymaBay Therapeutics stock opened at $5.95 on Wednesday. The stock has a 50 day moving average price of $6.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 16.20 and a current ratio of 16.20. CymaBay Therapeutics has a 52-week low of $4.82 and a 52-week high of $14.00. The stock has a market cap of $412.89 million, a P/E ratio of -4.72 and a beta of 1.20.

CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.02. As a group, equities research analysts expect that CymaBay Therapeutics will post -1.5 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in CymaBay Therapeutics by 107.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 716,974 shares of the biopharmaceutical company’s stock worth $5,643,000 after acquiring an additional 370,985 shares during the period. Geode Capital Management LLC boosted its stake in CymaBay Therapeutics by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 625,627 shares of the biopharmaceutical company’s stock worth $4,923,000 after buying an additional 32,337 shares in the last quarter. Bank of America Corp DE boosted its stake in CymaBay Therapeutics by 1.5% during the fourth quarter. Bank of America Corp DE now owns 164,192 shares of the biopharmaceutical company’s stock worth $1,291,000 after buying an additional 2,478 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in CymaBay Therapeutics during the fourth quarter worth $82,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in CymaBay Therapeutics by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,900 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 15,542 shares in the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.

CymaBay Therapeutics Company Profile

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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Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

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