CymaBay Therapeutics (NASDAQ:CBAY) Posts Earnings Results, Hits Estimates

CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.30) EPS for the quarter, hitting analysts’ consensus estimates of ($0.30), Yahoo Finance reports. During the same quarter in the previous year, the firm earned ($0.34) EPS.

CymaBay Therapeutics Trading Up 4.9 %

NASDAQ:CBAY opened at $9.59 on Friday. The stock has a market capitalization of $812.09 million, a price-to-earnings ratio of -7.93 and a beta of 0.29. CymaBay Therapeutics has a 52 week low of $1.67 and a 52 week high of $10.05. The company has a quick ratio of 12.20, a current ratio of 12.20 and a debt-to-equity ratio of 1.43. The firm has a 50 day moving average of $7.97 and a 200 day moving average of $5.31.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CBAY shares. HC Wainwright lifted their price objective on shares of CymaBay Therapeutics from $10.00 to $12.00 in a report on Friday. Raymond James lifted their price objective on shares of CymaBay Therapeutics from $14.00 to $17.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 17th. Oppenheimer lifted their price objective on shares of CymaBay Therapeutics from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, March 7th. SVB Leerink lifted their price objective on shares of CymaBay Therapeutics from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Finally, Cantor Fitzgerald boosted their price target on shares of CymaBay Therapeutics from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday, January 31st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CymaBay Therapeutics has a consensus rating of “Buy” and a consensus price target of $13.50.

Hedge Funds Weigh In On CymaBay Therapeutics

A number of large investors have recently made changes to their positions in CBAY. Royal Bank of Canada boosted its position in shares of CymaBay Therapeutics by 506.5% in the 3rd quarter. Royal Bank of Canada now owns 7,581 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 6,331 shares in the last quarter. Jane Street Group LLC acquired a new position in CymaBay Therapeutics during the 2nd quarter valued at about $36,000. Verition Fund Management LLC purchased a new stake in CymaBay Therapeutics in the second quarter valued at about $47,000. XTX Topco Ltd acquired a new stake in CymaBay Therapeutics in the first quarter worth about $53,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of CymaBay Therapeutics during the fourth quarter worth about $113,000. 73.54% of the stock is owned by institutional investors and hedge funds.

About CymaBay Therapeutics

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CymaBay Therapeutics, Inc engages in the provision and development of access to therapies for patients with liver and other chronic diseases with high unmet medical needs. Its products pipeline includes Seladelpar, MBX-2982, CB-0406, and CB-001. The company was founded on October 5, 1988 and is headquartered in Newark, CA.