CymaBay Therapeutics (NASDAQ:CBAY) Posts Earnings Results, Hits Estimates

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

CymaBay Therapeutics Stock Performance

NASDAQ:CBAY opened at $9.14 on Friday. The firm’s 50-day moving average is $7.89 and its 200-day moving average is $5.26. CymaBay Therapeutics has a 52-week low of $1.67 and a 52-week high of $9.54. The company has a debt-to-equity ratio of 1.43, a quick ratio of 12.20 and a current ratio of 12.20.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CBAY shares. SVB Leerink raised their price objective on shares of CymaBay Therapeutics from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. Oppenheimer raised their target price on shares of CymaBay Therapeutics from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, March 7th. BTIG Research started coverage on shares of CymaBay Therapeutics in a report on Thursday, March 9th. They set a “buy” rating and a $15.00 target price for the company. Raymond James raised their target price on shares of CymaBay Therapeutics from $14.00 to $17.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 17th. Finally, StockNews.com started coverage on shares of CymaBay Therapeutics in a report on Thursday. They set a “hold” rating for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CymaBay Therapeutics currently has a consensus rating of “Buy” and an average price target of $13.25.

Institutional Trading of CymaBay Therapeutics

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in shares of CymaBay Therapeutics by 506.5% during the 3rd quarter. Royal Bank of Canada now owns 7,581 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 6,331 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of CymaBay Therapeutics during the 2nd quarter valued at about $36,000. Verition Fund Management LLC acquired a new stake in shares of CymaBay Therapeutics during the 2nd quarter valued at about $47,000. XTX Topco Ltd acquired a new position in CymaBay Therapeutics in the first quarter valued at about $53,000. Finally, Boothbay Fund Management LLC acquired a new position in CymaBay Therapeutics in the fourth quarter valued at about $113,000. 73.54% of the stock is currently owned by institutional investors and hedge funds.

About CymaBay Therapeutics

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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.