CymaBay Therapeutics (NASDAQ:CBAY) Posts Earnings Results, Meets Expectations

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

CymaBay Therapeutics Price Performance

Shares of NASDAQ CBAY opened at $9.59 on Friday. CymaBay Therapeutics has a twelve month low of $1.67 and a twelve month high of $10.05. The company has a current ratio of 12.20, a quick ratio of 12.20 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $812.09 million, a price-to-earnings ratio of -7.93 and a beta of 0.29. The firm has a 50-day moving average of $7.97 and a two-hundred day moving average of $5.31.

Institutional Investors Weigh In On CymaBay Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CBAY. Millennium Management LLC lifted its holdings in CymaBay Therapeutics by 27.1% in the 2nd quarter. Millennium Management LLC now owns 3,015,496 shares of the biopharmaceutical company’s stock valued at $8,896,000 after acquiring an additional 642,796 shares during the last quarter. UBS Group AG raised its holdings in CymaBay Therapeutics by 1,347.2% during the 2nd quarter. UBS Group AG now owns 455,265 shares of the biopharmaceutical company’s stock worth $1,343,000 after buying an additional 423,806 shares during the period. Point72 Asset Management L.P. acquired a new stake in CymaBay Therapeutics during the 2nd quarter worth about $1,033,000. EAM Global Investors LLC acquired a new stake in CymaBay Therapeutics during the 4th quarter worth about $1,955,000. Finally, Renaissance Technologies LLC raised its holdings in CymaBay Therapeutics by 113.1% during the 1st quarter. Renaissance Technologies LLC now owns 459,535 shares of the biopharmaceutical company’s stock worth $1,429,000 after buying an additional 243,915 shares during the period. 73.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on CBAY. Raymond James boosted their target price on shares of CymaBay Therapeutics from $14.00 to $17.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 17th. Cantor Fitzgerald boosted their target price on shares of CymaBay Therapeutics from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Tuesday, January 31st. Oppenheimer boosted their target price on shares of CymaBay Therapeutics from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Tuesday, March 7th. Piper Sandler boosted their price target on shares of CymaBay Therapeutics from $12.00 to $19.00 and gave the company an “overweight” rating in a report on Sunday, January 29th. Finally, SVB Leerink boosted their price target on shares of CymaBay Therapeutics from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $13.50.

CymaBay Therapeutics Company Profile

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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.