Oppenheimer set a $20.00 price objective on CymaBay Therapeutics (NASDAQ:CBAY) in a research note published on Friday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
CBAY has been the topic of several other research reports. BidaskClub downgraded CymaBay Therapeutics from a hold rating to a sell rating in a research note on Tuesday, July 31st. Piper Jaffray Companies lifted their price target on CymaBay Therapeutics to $30.00 and gave the company an overweight rating in a research note on Friday, August 10th. Zacks Investment Research raised CymaBay Therapeutics from a sell rating to a hold rating in a research note on Tuesday, June 12th. Raymond James assumed coverage on CymaBay Therapeutics in a research note on Thursday, June 28th. They issued an outperform rating and a $20.00 price target on the stock. Finally, Cantor Fitzgerald reissued a buy rating and issued a $16.00 price target on shares of CymaBay Therapeutics in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $21.88.
CBAY opened at $10.60 on Friday. CymaBay Therapeutics has a 1 year low of $7.63 and a 1 year high of $15.59. The stock has a market capitalization of $654.30 million, a price-to-earnings ratio of -13.42 and a beta of 2.01.
In related news, CEO Sujal Shah bought 5,000 shares of the stock in a transaction that occurred on Friday, July 27th. The shares were acquired at an average price of $10.90 per share, with a total value of $54,500.00. Following the completion of the transaction, the chief executive officer now owns 95,000 shares in the company, valued at $1,035,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of CymaBay Therapeutics by 69.3% in the first quarter. BlackRock Inc. now owns 1,169,203 shares of the biopharmaceutical company’s stock valued at $15,187,000 after acquiring an additional 478,524 shares during the last quarter. Altshuler Shaham Ltd increased its position in shares of CymaBay Therapeutics by 45.7% in the second quarter. Altshuler Shaham Ltd now owns 88,007 shares of the biopharmaceutical company’s stock valued at $1,181,000 after acquiring an additional 27,600 shares during the last quarter. Swiss National Bank acquired a new stake in shares of CymaBay Therapeutics in the second quarter valued at about $1,298,000. Northern Trust Corp increased its position in shares of CymaBay Therapeutics by 33.7% in the first quarter. Northern Trust Corp now owns 113,849 shares of the biopharmaceutical company’s stock valued at $1,479,000 after acquiring an additional 28,725 shares during the last quarter. Finally, Voya Investment Management LLC acquired a new stake in shares of CymaBay Therapeutics in the second quarter valued at about $12,667,000. 95.48% of the stock is currently owned by institutional investors and hedge funds.
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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