CymaBay Therapeutics Inc (NASDAQ:CBAY) – Equities research analysts at Piper Jaffray Companies lowered their FY2023 earnings estimates for CymaBay Therapeutics in a research report issued to clients and investors on Wednesday, May 8th, Zacks Investment Research reports. Piper Jaffray Companies analyst E. Tenthoff now expects that the biopharmaceutical company will earn $1.80 per share for the year, down from their prior forecast of $1.85. Piper Jaffray Companies has a “Buy” rating and a $30.00 price objective on the stock.
Several other research firms have also recently commented on CBAY. Roth Capital reaffirmed a “buy” rating on shares of CymaBay Therapeutics in a research report on Tuesday, February 19th. BidaskClub cut shares of CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 11th. ValuEngine raised shares of CymaBay Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 1st. Leerink Swann assumed coverage on shares of CymaBay Therapeutics in a research report on Friday, February 22nd. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Cantor Fitzgerald set a $20.00 price target on shares of CymaBay Therapeutics and gave the stock a “buy” rating in a research report on Sunday, April 14th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $19.56.
CBAY traded up $0.18 during trading on Friday, hitting $12.08. The company had a trading volume of 999,597 shares, compared to its average volume of 949,955. The stock has a market capitalization of $817.46 million, a P/E ratio of -9.59 and a beta of 1.77. CymaBay Therapeutics has a one year low of $6.31 and a one year high of $15.00. The company has a current ratio of 18.66, a quick ratio of 18.66 and a debt-to-equity ratio of 0.01.
CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.03).
A number of large investors have recently modified their holdings of CBAY. Marshall Wace North America L.P. increased its stake in shares of CymaBay Therapeutics by 1,744.6% during the 1st quarter. Marshall Wace North America L.P. now owns 122,792 shares of the biopharmaceutical company’s stock worth $1,631,000 after purchasing an additional 116,135 shares during the last quarter. Marshall Wace LLP increased its stake in shares of CymaBay Therapeutics by 17.0% during the 1st quarter. Marshall Wace LLP now owns 63,589 shares of the biopharmaceutical company’s stock worth $844,000 after purchasing an additional 9,231 shares during the last quarter. BlueMountain Capital Management LLC acquired a new position in shares of CymaBay Therapeutics during the 1st quarter worth about $209,000. Perceptive Advisors LLC increased its stake in shares of CymaBay Therapeutics by 71.1% during the 1st quarter. Perceptive Advisors LLC now owns 4,212,821 shares of the biopharmaceutical company’s stock worth $55,946,000 after purchasing an additional 1,750,000 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of CymaBay Therapeutics during the 1st quarter worth about $433,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.
CymaBay Therapeutics Company Profile
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.