CymaBay Therapeutics (CBAY) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of CymaBay Therapeutics (NASDAQ:CBAY) from a buy rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “CymaBay Therapeutics Inc. is a biopharmaceutical company. It is focused on the development and commercialization of proprietary new medicines for important human diseases. The Company’s lead product candidate, arhalofenate, is being developed for the treatment of gout. CymaBay Therapeutics Inc. is based in Newark, California. “

Other equities research analysts also recently issued reports about the stock. Citigroup assumed coverage on shares of CymaBay Therapeutics in a research note on Tuesday. They issued a buy rating and a $21.00 target price for the company. BidaskClub upgraded shares of CymaBay Therapeutics from a hold rating to a buy rating in a research note on Tuesday, April 30th. ValuEngine upgraded shares of CymaBay Therapeutics from a buy rating to a strong-buy rating in a research note on Thursday, April 25th. Raymond James set a $18.00 target price on shares of CymaBay Therapeutics and gave the company a buy rating in a research note on Tuesday, April 23rd. Finally, Oppenheimer set a $18.00 target price on shares of CymaBay Therapeutics and gave the company a buy rating in a research note on Sunday, April 14th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. CymaBay Therapeutics has a consensus rating of Buy and an average price target of $19.56.

CymaBay Therapeutics stock opened at $12.62 on Tuesday. CymaBay Therapeutics has a one year low of $6.31 and a one year high of $15.00. The company has a quick ratio of 18.66, a current ratio of 18.66 and a debt-to-equity ratio of 0.01.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.03). As a group, analysts forecast that CymaBay Therapeutics will post -1.44 EPS for the current year.

Large investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in CymaBay Therapeutics by 16.3% in the 4th quarter. BlackRock Inc. now owns 5,161,581 shares of the biopharmaceutical company’s stock valued at $40,622,000 after acquiring an additional 722,753 shares during the period. Perceptive Advisors LLC increased its holdings in shares of CymaBay Therapeutics by 71.1% during the first quarter. Perceptive Advisors LLC now owns 4,212,821 shares of the biopharmaceutical company’s stock worth $55,946,000 after purchasing an additional 1,750,000 shares during the period. Eagle Asset Management Inc. increased its holdings in shares of CymaBay Therapeutics by 5.6% during the first quarter. Eagle Asset Management Inc. now owns 3,011,623 shares of the biopharmaceutical company’s stock worth $39,994,000 after purchasing an additional 158,650 shares during the period. Vanguard Group Inc increased its holdings in shares of CymaBay Therapeutics by 4.1% during the third quarter. Vanguard Group Inc now owns 2,789,188 shares of the biopharmaceutical company’s stock worth $30,903,000 after purchasing an additional 109,989 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of CymaBay Therapeutics by 4.1% during the third quarter. Vanguard Group Inc. now owns 2,789,188 shares of the biopharmaceutical company’s stock worth $30,903,000 after purchasing an additional 109,989 shares during the period. Institutional investors and hedge funds own 85.06% of the company’s stock.

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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