Piper Sandler initiated coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a report published on Thursday, BenzingaRatingsTable reports. The firm issued an overweight rating and a $12.00 price target on the biopharmaceutical company’s stock.
A number of other research analysts also recently issued reports on the stock. Stifel Nicolaus upgraded shares of CymaBay Therapeutics from a hold rating to a buy rating and boosted their price target for the stock from $4.00 to $8.00 in a research report on Tuesday, May 12th. Raymond James upgraded shares of CymaBay Therapeutics from an outperform rating to a strong-buy rating in a report on Thursday, July 23rd. Cantor Fitzgerald increased their price target on CymaBay Therapeutics from $5.00 to $15.00 and gave the stock an overweight rating in a report on Tuesday, May 12th. Oppenheimer lifted their price objective on CymaBay Therapeutics from $6.00 to $10.00 and gave the stock an outperform rating in a research report on Thursday, July 23rd. Finally, Evercore ISI upgraded CymaBay Therapeutics from an in-line rating to an outperform rating and set a $15.00 target price on the stock in a research report on Tuesday, May 12th. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $9.54.
Shares of NASDAQ:CBAY opened at $3.55 on Thursday. CymaBay Therapeutics has a 12-month low of $1.21 and a 12-month high of $6.56. The business has a fifty day simple moving average of $3.69 and a 200 day simple moving average of $2.51. The company has a quick ratio of 15.60, a current ratio of 15.60 and a debt-to-equity ratio of 0.01.
CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.12. On average, analysts forecast that CymaBay Therapeutics will post -0.93 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of CBAY. Engine Capital Management LP boosted its position in shares of CymaBay Therapeutics by 25.2% during the first quarter. Engine Capital Management LP now owns 6,240,366 shares of the biopharmaceutical company’s stock valued at $11,108,000 after buying an additional 1,256,432 shares during the last quarter. Deutsche Bank AG lifted its stake in CymaBay Therapeutics by 474.1% during the 1st quarter. Deutsche Bank AG now owns 3,154,427 shares of the biopharmaceutical company’s stock valued at $4,668,000 after acquiring an additional 2,605,008 shares in the last quarter. Ikarian Capital LLC purchased a new position in CymaBay Therapeutics during the 1st quarter worth $3,503,000. State Street Corp boosted its holdings in CymaBay Therapeutics by 0.8% during the 1st quarter. State Street Corp now owns 1,421,566 shares of the biopharmaceutical company’s stock worth $2,104,000 after acquiring an additional 11,652 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of CymaBay Therapeutics by 5.8% in the 1st quarter. Geode Capital Management LLC now owns 1,087,183 shares of the biopharmaceutical company’s stock worth $1,609,000 after acquiring an additional 59,263 shares in the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.
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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