CymaBay Therapeutics (NASDAQ:CBAY) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of CymaBay Therapeutics (NASDAQ:CBAY) from a hold rating to a buy rating in a research report report published on Thursday, BidAskClub reports.

Several other analysts also recently weighed in on CBAY. Citigroup boosted their price objective on CymaBay Therapeutics from $7.00 to $9.00 and gave the company a buy rating in a research report on Tuesday, August 25th. Piper Sandler began coverage on CymaBay Therapeutics in a research report on Thursday, July 30th. They issued an overweight rating and a $12.00 price objective for the company. B. Riley boosted their price objective on CymaBay Therapeutics from $9.00 to $13.00 in a research report on Wednesday, September 9th. Oppenheimer reiterated a buy rating and issued a $14.00 price objective on shares of CymaBay Therapeutics in a research report on Thursday, September 10th. Finally, Zacks Investment Research downgraded CymaBay Therapeutics from a hold rating to a sell rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $12.13.

NASDAQ:CBAY opened at $6.92 on Thursday. The business has a 50 day moving average of $5.91 and a 200 day moving average of $3.54. The company has a market capitalization of $476.70 million, a price-to-earnings ratio of -6.02 and a beta of 1.72. CymaBay Therapeutics has a 1-year low of $1.21 and a 1-year high of $7.09.

CymaBay Therapeutics (NASDAQ:CBAY) last released its earnings results on Monday, August 10th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.07. On average, research analysts anticipate that CymaBay Therapeutics will post -0.72 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Two Sigma Advisers LP raised its holdings in shares of CymaBay Therapeutics by 5.8% during the second quarter. Two Sigma Advisers LP now owns 372,638 shares of the biopharmaceutical company’s stock valued at $1,301,000 after acquiring an additional 20,400 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of CymaBay Therapeutics by 42.9% during the second quarter. Schonfeld Strategic Advisors LLC now owns 80,382 shares of the biopharmaceutical company’s stock valued at $281,000 after acquiring an additional 24,132 shares in the last quarter. Bridgeway Capital Management Inc. grew its stake in CymaBay Therapeutics by 221.0% in the second quarter. Bridgeway Capital Management Inc. now owns 497,524 shares of the biopharmaceutical company’s stock worth $1,736,000 after purchasing an additional 342,524 shares during the period. Charles Schwab Investment Management Inc. grew its stake in CymaBay Therapeutics by 16.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 435,930 shares of the biopharmaceutical company’s stock worth $1,522,000 after purchasing an additional 60,665 shares during the period. Finally, Engineers Gate Manager LP grew its stake in CymaBay Therapeutics by 239.0% in the second quarter. Engineers Gate Manager LP now owns 59,912 shares of the biopharmaceutical company’s stock worth $209,000 after purchasing an additional 42,239 shares during the period. Institutional investors own 85.99% 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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Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

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