CymaBay Therapeutics Inc (NASDAQ:CBAY) saw unusually-high trading volume on Friday after Piper Jaffray Companies raised their price target on the stock from $5.00 to $6.50. Piper Jaffray Companies currently has an overweight rating on the stock. Approximately 718,908 shares changed hands during trading, an increase of 19% from the previous session’s volume of 602,378 shares.The stock last traded at $4.19 and had previously closed at $3.81.
Other equities analysts also recently issued research reports about the stock. HC Wainwright raised shares of CymaBay Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2.50 to $6.00 in a research note on Monday, January 30th. Zacks Investment Research raised shares of CymaBay Therapeutics from a “hold” rating to a “strong-buy” rating and set a $2.25 price objective for the company in a research note on Wednesday, February 1st.
An institutional investor recently bought a new position in CymaBay Therapeutics stock. J. Goldman & Co LP purchased a new position in CymaBay Therapeutics Inc (NASDAQ:CBAY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 330,207 shares of the biopharmaceutical company’s stock, valued at approximately $571,000. J. Goldman & Co LP owned about 1.41% of CymaBay Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 27.88% of the company’s stock.
CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings data on Thursday, March 23rd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.02. On average, analysts anticipate that CymaBay Therapeutics Inc will post ($0.89) EPS for the current year.
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About CymaBay Therapeutics
CymaBay Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing therapies to treat metabolic diseases, including serious rare and orphan diseases. The Company’s product candidates include Arhalofenate, MBX-8025 and MBX-2982. Arhalofenate is used to treat gout.
