Oppenheimer set a $18.00 target price on CymaBay Therapeutics (NASDAQ:CBAY) in a report published on Wednesday. The firm currently has a buy rating on the biopharmaceutical company’s stock. Oppenheimer also issued estimates for CymaBay Therapeutics’ FY2022 earnings at $0.18 EPS.
Several other research firms have also weighed in on CBAY. BidaskClub upgraded shares of CymaBay Therapeutics from a sell rating to a hold rating in a report on Thursday, August 9th. Cantor Fitzgerald reiterated a buy rating and issued a $16.00 target price on shares of CymaBay Therapeutics in a report on Thursday, August 9th. Zacks Investment Research lowered shares of CymaBay Therapeutics from a hold rating to a sell rating in a report on Monday, October 15th. Finally, Piper Jaffray Companies boosted their target price on shares of CymaBay Therapeutics to $30.00 and gave the company an overweight rating in a report on Friday, August 10th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. CymaBay Therapeutics presently has an average rating of Buy and an average price target of $21.75.
CBAY traded down $0.18 on Wednesday, reaching $11.56. 579,190 shares of the company’s stock were exchanged, compared to its average volume of 435,156. The firm has a market capitalization of $693.66 million, a PE ratio of -14.63 and a beta of 1.89. CymaBay Therapeutics has a twelve month low of $7.63 and a twelve month high of $15.59.
In other CymaBay Therapeutics news, VP Daniel Menold sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $13.00, for a total value of $65,000.00. Following the transaction, the vice president now directly owns 5,000 shares in the company, valued at approximately $65,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Baker BROS. Advisors LP raised its stake in shares of CymaBay Therapeutics by 25.5% in the 2nd quarter. Baker BROS. Advisors LP now owns 4,917,700 shares of the biopharmaceutical company’s stock valued at $65,996,000 after acquiring an additional 1,000,000 shares during the period. BlackRock Inc. raised its stake in shares of CymaBay Therapeutics by 9.5% in the 3rd quarter. BlackRock Inc. now owns 4,438,828 shares of the biopharmaceutical company’s stock valued at $49,184,000 after acquiring an additional 384,543 shares during the period. Eagle Asset Management Inc. raised its stake in shares of CymaBay Therapeutics by 37.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 2,844,766 shares of the biopharmaceutical company’s stock valued at $31,520,000 after acquiring an additional 781,700 shares during the period. Citadel Advisors LLC raised its stake in shares of CymaBay Therapeutics by 79.2% in the 2nd quarter. Citadel Advisors LLC now owns 1,914,807 shares of the biopharmaceutical company’s stock valued at $25,696,000 after acquiring an additional 846,407 shares during the period. Finally, Carillon Tower Advisers Inc. purchased a new stake in shares of CymaBay Therapeutics in the 2nd quarter valued at approximately $19,422,000. 95.69% of the stock is currently owned by institutional investors and hedge funds.
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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