CymaBay Therapeutics (NASDAQ:CBAY) Hits New 12-Month Low on Analyst Downgrade

CymaBay Therapeutics Inc (NASDAQ:CBAY) reached a new 52-week low on Tuesday after BidaskClub downgraded the stock from a hold rating to a sell rating. The stock traded as low as $4.82 and last traded at $5.38, with a volume of 5745570 shares. The stock had previously closed at $11.09.

Several other equities research analysts also recently weighed in on CBAY. Oppenheimer set a $18.00 target price on shares of CymaBay Therapeutics and gave the stock a “buy” rating in a research report on Friday, February 15th. Piper Jaffray Companies set a $30.00 price target on shares of CymaBay Therapeutics and gave the company a “buy” rating in a report on Wednesday, February 20th. Roth Capital reaffirmed a “buy” rating on shares of CymaBay Therapeutics in a report on Tuesday, February 19th. Leerink Swann started coverage on shares of CymaBay Therapeutics in a report on Friday, February 22nd. They issued an “outperform” rating and a $22.00 price target for the company. Finally, Svb Leerink reaffirmed an “outperform” rating on shares of CymaBay Therapeutics in a report on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $15.44.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of 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 buying an additional 722,753 shares during the period. Perceptive Advisors LLC boosted its holdings in shares of CymaBay Therapeutics by 71.1% in the 1st quarter. Perceptive Advisors LLC now owns 4,212,821 shares of the biopharmaceutical company’s stock valued at $55,946,000 after buying an additional 1,750,000 shares during the period. Eagle Asset Management Inc. boosted its holdings in shares of CymaBay Therapeutics by 5.6% in the 1st quarter. Eagle Asset Management Inc. now owns 3,011,623 shares of the biopharmaceutical company’s stock valued at $39,994,000 after buying an additional 158,650 shares during the period. Vanguard Group Inc. boosted its stake in CymaBay Therapeutics by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,789,188 shares of the biopharmaceutical company’s stock valued at $30,903,000 after purchasing an additional 109,989 shares during the period. Finally, Foresite Capital Management IV LLC boosted its stake in CymaBay Therapeutics by 30.0% during the 4th quarter. Foresite Capital Management IV LLC now owns 2,631,258 shares of the biopharmaceutical company’s stock valued at $20,708,000 after purchasing an additional 607,889 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

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 earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, research analysts forecast that CymaBay Therapeutics Inc will post -1.48 earnings per share for the current year.

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CymaBay Therapeutics Company Profile (NASDAQ:CBAY)

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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