CymaBay Therapeutics (NASDAQ:CBAY) had its price target increased by Leerink Swann from $16.00 to $20.00 in a research report sent to investors on Wednesday. They currently have an outperform rating on the biopharmaceutical company’s stock.
CBAY has been the subject of several other reports. BidaskClub upgraded CymaBay Therapeutics from a buy rating to a strong-buy rating in a research note on Wednesday, February 21st. Oppenheimer set a $15.00 target price on CymaBay Therapeutics and gave the stock a buy rating in a research note on Wednesday, January 10th. SunTrust Banks reiterated a buy rating and set a $19.00 target price on shares of CymaBay Therapeutics in a research note on Friday, March 16th. Zacks Investment Research downgraded CymaBay Therapeutics from a hold rating to a sell rating in a research note on Tuesday, January 16th. Finally, ValuEngine upgraded CymaBay Therapeutics from a hold rating to a buy rating in a research note on Monday, April 2nd. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $18.56.
Shares of NASDAQ CBAY opened at $13.50 on Wednesday. The company has a quick ratio of 6.35, a current ratio of 6.35 and a debt-to-equity ratio of 0.04. CymaBay Therapeutics has a 12 month low of $3.16 and a 12 month high of $15.59. The company has a market cap of $765.79, a PE ratio of -17.09 and a beta of 2.06.
In related news, Director Kurt Von Emster sold 138,253 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $10.40, for a total value of $1,437,831.20. Following the completion of the sale, the director now directly owns 90,000 shares in the company, valued at approximately $936,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carl Goldfischer sold 15,000 shares of the business’s stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $13.03, for a total value of $195,450.00. Following the completion of the sale, the director now owns 9,340 shares of the company’s stock, valued at $121,700.20. The disclosure for this sale can be found here. Insiders sold a total of 815,648 shares of company stock valued at $10,283,751 over the last 90 days. 15.10% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC raised its holdings in CymaBay Therapeutics by 56.2% in the 4th quarter. Virtu Financial LLC now owns 24,735 shares of the biopharmaceutical company’s stock valued at $228,000 after acquiring an additional 8,899 shares in the last quarter. Sigma Planning Corp raised its holdings in CymaBay Therapeutics by 82.0% in the 4th quarter. Sigma Planning Corp now owns 27,300 shares of the biopharmaceutical company’s stock valued at $251,000 after acquiring an additional 12,300 shares in the last quarter. Schwab Charles Investment Management Inc. acquired a new position in CymaBay Therapeutics in the 4th quarter valued at $115,000. Raymond James & Associates raised 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 valued at $489,000 after acquiring an additional 17,848 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in CymaBay Therapeutics in the 4th quarter valued at $197,000. Institutional investors and hedge funds own 58.15% of the company’s stock.
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CymaBay Therapeutics Company Profile
Cymabay Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to treat specialty and orphan diseases. It engages in developing seladelpar (MBX-8025), a selective agonist of peroxisome proliferator-activated receptor delta, which has completed Phase 2 clinical study for the treatment of primary biliary cholangitis and homozygous familial hypercholesterolemia; and arhalofenate, which completed five Phase II clinical trials for the treatment of gout.
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