CymaBay Therapeutics (NASDAQ:CBAY) Issues Earnings Results, Meets Estimates

CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.30) EPS for the quarter, hitting analysts’ consensus estimates of ($0.30), Yahoo Finance reports. During the same period in the prior year, the company earned ($0.34) EPS.

CymaBay Therapeutics Trading Up 4.9 %

Shares of CymaBay Therapeutics stock opened at $9.59 on Friday. The company has a quick ratio of 12.20, a current ratio of 12.20 and a debt-to-equity ratio of 1.43. The firm has a market cap of $812.09 million, a price-to-earnings ratio of -7.93 and a beta of 0.29. The business has a fifty day simple moving average of $7.97 and a 200-day simple moving average of $5.31. CymaBay Therapeutics has a fifty-two week low of $1.67 and a fifty-two week high of $10.05.

Analysts Set New Price Targets

A number of brokerages recently commented on CBAY. StockNews.com began coverage on CymaBay Therapeutics in a research note on Thursday. They set a “hold” rating for the company. Raymond James upped their price objective on CymaBay Therapeutics from $14.00 to $17.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 17th. SVB Leerink upped their price objective on CymaBay Therapeutics from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 8th. HC Wainwright boosted their price target on CymaBay Therapeutics from $10.00 to $12.00 in a research report on Friday. Finally, Oppenheimer boosted their price target on CymaBay Therapeutics from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 7th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $13.50.

Institutional Trading of CymaBay Therapeutics

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of CymaBay Therapeutics by 506.5% during the third quarter. Royal Bank of Canada now owns 7,581 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 6,331 shares during the last quarter. Jane Street Group LLC acquired a new position in CymaBay Therapeutics during the second quarter valued at $36,000. Verition Fund Management LLC acquired a new position in CymaBay Therapeutics during the second quarter valued at $47,000. XTX Topco Ltd acquired a new position in CymaBay Therapeutics during the first quarter valued at $53,000. Finally, Boothbay Fund Management LLC acquired a new position in CymaBay Therapeutics during the fourth quarter valued at $113,000. Institutional investors and hedge funds own 73.54% of the company’s stock.

About CymaBay Therapeutics

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CymaBay Therapeutics, Inc engages in the provision and development of access to therapies for patients with liver and other chronic diseases with high unmet medical needs. Its products pipeline includes Seladelpar, MBX-2982, CB-0406, and CB-001. The company was founded on October 5, 1988 and is headquartered in Newark, CA.