CymaBay Therapeutics Inc (NASDAQ:CBAY) – Investment analysts at B. Riley boosted their FY2022 earnings estimates for shares of CymaBay Therapeutics in a report issued on Monday, June 17th, Zacks Investment Research reports. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will earn ($1.35) per share for the year, up from their prior estimate of ($1.57). B. Riley has a “Hold” rating and a $7.00 price objective on the stock. B. Riley also issued estimates for CymaBay Therapeutics’ FY2023 earnings at ($0.97) EPS.
CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.03).
Several other brokerages also recently weighed in on CBAY. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective (down from $24.00) on shares of CymaBay Therapeutics in a research report on Wednesday, June 12th. BidaskClub downgraded shares of CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 11th. ValuEngine upgraded shares of CymaBay Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 1st. Stifel Nicolaus initiated coverage on shares of CymaBay Therapeutics in a research report on Monday, June 24th. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of CymaBay Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $14.00.
Shares of NASDAQ:CBAY opened at $7.09 on Wednesday. The company has a market cap of $482.89 million, a P/E ratio of -5.63 and a beta of 1.26. The firm has a 50-day moving average price of $9.76. CymaBay Therapeutics has a fifty-two week low of $4.82 and a fifty-two week high of $14.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 18.66 and a current ratio of 18.66.
Several hedge funds have recently added to or reduced their stakes in CBAY. Meeder Asset Management Inc. raised its holdings in shares of CymaBay Therapeutics by 307.3% in the 1st quarter. Meeder Asset Management Inc. now owns 2,839 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 2,142 shares in the last quarter. Pearl River Capital LLC bought a new stake in shares of CymaBay Therapeutics in the 4th quarter worth approximately $74,000. D. E. Shaw & Co. Inc. bought a new stake in shares of CymaBay Therapeutics in the 4th quarter worth approximately $82,000. BNP Paribas Arbitrage SA bought a new stake in shares of CymaBay Therapeutics in the 1st quarter worth approximately $165,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of CymaBay Therapeutics by 23.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,120 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 2,460 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.
About CymaBay Therapeutics
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.