CymaBay Therapeutics Inc. (NASDAQ:CBAY) – Stock analysts at Leerink Swann decreased their FY2017 earnings per share estimates for shares of CymaBay Therapeutics in a research note issued to investors on Wednesday. Leerink Swann analyst J. Schwartz now expects that the biopharmaceutical company will post earnings per share of ($0.87) for the year, down from their prior forecast of ($0.85). Leerink Swann currently has a “Outperform” rating and a $12.00 target price on the stock. Leerink Swann also issued estimates for CymaBay Therapeutics’ Q4 2017 earnings at ($0.17) EPS, Q4 2018 earnings at ($0.24) EPS, FY2018 earnings at ($0.86) EPS and FY2019 earnings at ($1.06) EPS.
CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). During the same quarter in the previous year, the business posted ($0.25) earnings per share. TRADEMARK VIOLATION WARNING: This piece was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of US & international trademark and copyright law. The correct version of this piece can be read at https://sportsperspectives.com/2017/11/15/leerink-swann-comments-on-cymabay-therapeutics-inc-s-fy2017-earnings-cbay.html.
A number of other research firms also recently commented on CBAY. Zacks Investment Research raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Cantor Fitzgerald initiated coverage on CymaBay Therapeutics in a report on Tuesday, September 19th. They set an “overweight” rating and a $16.00 target price on the stock. Ifs Securities downgraded CymaBay Therapeutics from a “strong-buy” rating to an “outperform” rating in a report on Friday, August 11th. Citigroup Inc. reaffirmed an “outperform” rating and set a $15.00 target price (up previously from $8.00) on shares of CymaBay Therapeutics in a report on Thursday, July 20th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $12.00 price target on shares of CymaBay Therapeutics in a report on Tuesday, July 25th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $14.00.
CymaBay Therapeutics (CBAY) opened at $8.35 on Monday. The company has a quick ratio of 7.39, a current ratio of 7.39 and a debt-to-equity ratio of 0.04. CymaBay Therapeutics has a 1-year low of $1.46 and a 1-year high of $9.40.
Several hedge funds have recently modified their holdings of CBAY. Bank of New York Mellon Corp grew its holdings in shares of CymaBay Therapeutics by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,344 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 140 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of CymaBay Therapeutics in the 2nd quarter worth $242,000. Ardsley Advisory Partners grew its holdings in shares of CymaBay Therapeutics by 66.2% in the 2nd quarter. Ardsley Advisory Partners now owns 50,210 shares of the biopharmaceutical company’s stock worth $290,000 after acquiring an additional 20,000 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in shares of CymaBay Therapeutics in the 3rd quarter worth $404,000. Finally, Crestline Management LP acquired a new position in shares of CymaBay Therapeutics in the 3rd quarter worth $841,000. Institutional investors own 27.08% of the company’s stock.
In other news, Director Carl Goldfischer sold 18,000 shares of CymaBay Therapeutics stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $8.66, for a total transaction of $155,880.00. Following the transaction, the director now directly owns 9,000 shares in the company, valued at approximately $77,940. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kurt Von Emster sold 211,124 shares of CymaBay Therapeutics stock in a transaction on Friday, September 29th. The shares were sold at an average price of $8.09, for a total value of $1,707,993.16. The disclosure for this sale can be found here. Insiders have sold a total of 447,257 shares of company stock worth $3,730,862 in the last ninety days. 15.10% of the stock is owned by company insiders.
CymaBay Therapeutics Company Profile
CymaBay Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing therapies to treat metabolic diseases, including serious rare and orphan diseases. The Company’s product candidates include Arhalofenate, MBX-8025 and MBX-2982. Arhalofenate is used to treat gout.
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