ValuEngine Upgrades CymaBay Therapeutics (CBAY) to “Hold”

CymaBay Therapeutics (NASDAQ:CBAY) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday.

Several other equities research analysts also recently weighed in on CBAY. BidaskClub upgraded CymaBay Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Zacks Investment Research upgraded CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, January 26th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target (up from $12.00) on shares of CymaBay Therapeutics in a report on Wednesday, January 24th. Roth Capital reiterated a “buy” rating and issued a $27.00 price target on shares of CymaBay Therapeutics in a report on Thursday, January 25th. Finally, Leerink Swann reiterated a “buy” rating and issued a $16.00 price target on shares of CymaBay Therapeutics in a report on Tuesday, November 28th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $16.56.

Shares of CymaBay Therapeutics (NASDAQ:CBAY) opened at $12.03 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.39 and a current ratio of 7.39. CymaBay Therapeutics has a fifty-two week low of $1.92 and a fifty-two week high of $12.60.

CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period in the previous year, the firm posted ($0.25) earnings per share. research analysts anticipate that CymaBay Therapeutics will post -0.87 EPS for the current year.

In other CymaBay Therapeutics news, Director Kurt Von Emster sold 173,192 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $9.41, for a total transaction of $1,629,736.72. Following the transaction, the director now directly owns 90,000 shares in the company, valued at approximately $846,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 647,086 shares of company stock worth $6,726,633 over the last 90 days. 15.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in CymaBay Therapeutics by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,344 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 140 shares during the period. Schwab Charles Investment Management Inc. purchased a new position in CymaBay Therapeutics during the 4th quarter worth $115,000. Ardsley Advisory Partners increased its holdings in CymaBay Therapeutics by 66.2% during the 2nd quarter. Ardsley Advisory Partners now owns 50,210 shares of the biopharmaceutical company’s stock worth $290,000 after purchasing an additional 20,000 shares during the period. Boothbay Fund Management LLC purchased a new position in CymaBay Therapeutics during the 3rd quarter worth $404,000. Finally, Crestline Management LP purchased a new position in CymaBay Therapeutics during the 3rd quarter worth $841,000. Institutional investors own 69.15% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

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