CymaBay Therapeutics Inc (NASDAQ:CBAY) – Equities researchers at Piper Jaffray Companies dropped their FY2021 earnings estimates for CymaBay Therapeutics in a note issued to investors on Tuesday, June 11th. Piper Jaffray Companies analyst E. Tenthoff now anticipates that the biopharmaceutical company will post earnings of ($1.60) per share for the year, down from their previous forecast of ($1.35). Piper Jaffray Companies currently has a “Buy” rating and a $8.00 target price on the stock. Piper Jaffray Companies also issued estimates for CymaBay Therapeutics’ FY2022 earnings at ($0.60) EPS and FY2023 earnings at ($0.10) EPS.
A number of other research firms have also recently commented on CBAY. HC Wainwright reissued a “buy” rating and issued a $12.00 price target (down previously from $24.00) on shares of CymaBay Therapeutics in a research note on Wednesday. BidaskClub cut shares of CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 11th. Roth Capital reissued a “buy” rating on shares of CymaBay Therapeutics in a research note on Tuesday, February 19th. ValuEngine raised shares of CymaBay Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 1st. Finally, B. Riley set a $11.00 price target on shares of CymaBay Therapeutics and gave the stock a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $15.44.
CymaBay Therapeutics (NASDAQ:CBAY) last issued 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 hedge funds have recently added to or reduced their stakes in CBAY. Advisor Group Inc. boosted its stake in shares of CymaBay Therapeutics by 281.9% in the 1st quarter. Advisor Group Inc. now owns 2,601 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 1,920 shares in the last quarter. Meeder Asset Management Inc. boosted its stake 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 valued at $38,000 after purchasing an additional 2,142 shares in the last quarter. Pearl River Capital LLC purchased a new stake in shares of CymaBay Therapeutics in the 4th quarter valued at $74,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of CymaBay Therapeutics in the 4th quarter valued at $82,000. Finally, Trexquant Investment LP purchased a new stake in shares of CymaBay Therapeutics in the 1st quarter valued at $157,000. 99.53% of the stock is owned by institutional investors and hedge funds.
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.
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