Cantor Fitzgerald restated their buy rating on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a report released on Friday morning. Cantor Fitzgerald currently has a $16.00 target price on the biopharmaceutical company’s stock.
“Clarity on Phase 3 PBC trial design should come before end of 2Q18. Management noted that discussions with U.S. and European regulators are ongoing and expressed pleasure with the level of engagement. Once the details have been finalized, the company expects to share them with the Street. High level, the company anticipates conducting a single pivotal study involving a treatment period of 12 months.”,” Cantor Fitzgerald’s analyst commented.
Several other equities research analysts have also issued reports on CBAY. HC Wainwright reiterated a buy rating and set a $12.00 price target on shares of CymaBay Therapeutics in a report on Tuesday, November 28th. Leerink Swann reiterated a buy rating and set a $16.00 price target on shares of CymaBay Therapeutics in a report on Tuesday, November 28th. Oppenheimer set a $15.00 price target on CymaBay Therapeutics and gave the company a buy rating in a report on Wednesday, January 10th. Zacks Investment Research lowered CymaBay Therapeutics from a hold rating to a sell rating in a report on Tuesday, January 16th. Finally, Roth Capital reiterated a buy rating and set a $27.00 price target on shares of CymaBay Therapeutics in a report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $17.78.
Shares of CymaBay Therapeutics (CBAY) traded up $1.25 during trading on Friday, hitting $13.74. The stock had a trading volume of 1,730,222 shares, compared to its average volume of 877,939. The firm has a market cap of $730.69, a price-to-earnings ratio of -16.55 and a beta of 1.96. The company has a current ratio of 7.39, a quick ratio of 7.39 and a debt-to-equity ratio of 0.04. CymaBay Therapeutics has a fifty-two week low of $3.16 and a fifty-two week high of $15.59.
CymaBay Therapeutics (NASDAQ:CBAY) last announced its quarterly earnings results on Thursday, March 15th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.06. The firm had revenue of $5.20 million for the quarter, compared to analyst estimates of $1.25 million. equities research analysts predict that CymaBay Therapeutics will post -0.86 EPS for the current year.
In related news, Director Kurt Von Emster sold 13,353 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $15.51, for a total value of $207,105.03. Following the completion of the sale, the director now directly owns 90,000 shares in the company, valued at approximately $1,395,900. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 978,140 shares of company stock valued at $11,761,941. Corporate insiders own 15.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. J. Goldman & Co LP lifted its holdings in CymaBay Therapeutics by 4.9% in the 4th quarter. J. Goldman & Co LP now owns 559,000 shares of the biopharmaceutical company’s stock worth $5,143,000 after purchasing an additional 26,000 shares during the last quarter. Redmile Group LLC lifted its holdings in CymaBay Therapeutics by 21.6% in the 4th quarter. Redmile Group LLC now owns 2,002,265 shares of the biopharmaceutical company’s stock worth $18,421,000 after purchasing an additional 355,165 shares during the last quarter. Nexthera Capital LP lifted its holdings in CymaBay Therapeutics by 3,477.1% in the 4th quarter. Nexthera Capital LP now owns 536,568 shares of the biopharmaceutical company’s stock worth $4,936,000 after purchasing an additional 521,568 shares during the last quarter. Raymond James & Associates lifted its holdings in CymaBay Therapeutics by 50.6% in the 4th quarter. Raymond James & Associates now owns 53,148 shares of the biopharmaceutical company’s stock worth $489,000 after purchasing an additional 17,848 shares during the last quarter. Finally, Ardsley Advisory Partners lifted its holdings in CymaBay Therapeutics by 612.1% in the 4th quarter. Ardsley Advisory Partners now owns 500,000 shares of the biopharmaceutical company’s stock worth $4,600,000 after purchasing an additional 429,790 shares during the last quarter. Hedge funds and other institutional investors own 61.36% of the company’s stock.
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About CymaBay Therapeutics
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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