Analysts Set CymaBay Therapeutics, Inc. (NASDAQ:CBAY) PT at $22.27

Shares of CymaBay Therapeutics, Inc. (NASDAQ:CBAY) have received a consensus recommendation of “Buy” from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $22.27.

CBAY has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of CymaBay Therapeutics from $18.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. Jonestrading upped their price target on shares of CymaBay Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Raymond James upped their price target on shares of CymaBay Therapeutics from $33.00 to $34.00 and gave the company a “strong-buy” rating in a report on Wednesday, November 8th. William Blair reiterated an “outperform” rating on shares of CymaBay Therapeutics in a report on Tuesday, November 14th. Finally, BTIG Research upped their price target on shares of CymaBay Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 8th.

CymaBay Therapeutics Stock Up 0.9 %

Shares of NASDAQ CBAY opened at $18.36 on Monday. The stock has a market cap of $2.08 billion, a P/E ratio of -19.96 and a beta of 0.29. The firm has a 50 day moving average price of $15.40 and a 200 day moving average price of $12.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 22.76 and a current ratio of 22.76. CymaBay Therapeutics has a 52-week low of $3.17 and a 52-week high of $18.66.

CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). During the same quarter in the previous year, the business posted ($0.28) EPS. Analysts expect that CymaBay Therapeutics will post -0.94 EPS for the current year.

Insiders Place Their Bets

In other CymaBay Therapeutics news, CEO Sujal Shah sold 64,861 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $14.20, for a total transaction of $921,026.20. Following the sale, the chief executive officer now directly owns 171,301 shares of the company’s stock, valued at $2,432,474.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Paul T. Quinlan sold 53,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $16.87, for a total value of $894,110.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sujal Shah sold 64,861 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $14.20, for a total transaction of $921,026.20. Following the completion of the transaction, the chief executive officer now owns 171,301 shares in the company, valued at $2,432,474.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,613 shares of company stock valued at $3,086,453. 7.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CymaBay Therapeutics

Large investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of CymaBay Therapeutics by 506.5% in the third quarter. Royal Bank of Canada now owns 7,581 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 6,331 shares during the last quarter. Jane Street Group LLC bought a new position in shares of CymaBay Therapeutics in the second quarter worth about $36,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of CymaBay Therapeutics by 96.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,516 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,238 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in shares of CymaBay Therapeutics in the first quarter worth about $40,000. Finally, Verition Fund Management LLC bought a new position in shares of CymaBay Therapeutics in the second quarter worth about $47,000. 95.03% of the stock is currently owned by institutional investors and hedge funds.

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 (MBX-8025), a selective agonist of peroxisome proliferator activated receptor delta for the treatments of autoimmune liver disease, primary biliary cholangitis (PBC).