Analysts Set CymaBay Therapeutics, Inc. (NASDAQ:CBAY) Price Target at $28.65

Shares of CymaBay Therapeutics, Inc. (NASDAQ:CBAY) have earned a consensus recommendation of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $28.65.

A number of research analysts recently weighed in on the company. William Blair lowered CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Lifesci Capital lowered CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. B. Riley reissued a “neutral” rating and issued a $32.50 target price (up previously from $29.00) on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. Piper Sandler restated a “neutral” rating and issued a $32.50 price target (down previously from $33.00) on shares of CymaBay Therapeutics in a research report on Wednesday, February 14th. Finally, Jonestrading restated a “hold” rating on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th.

CymaBay Therapeutics Stock Performance

NASDAQ:CBAY opened at $32.48 on Thursday. The firm has a market cap of $3.73 billion, a P/E ratio of -33.48 and a beta of 0.32. The stock’s 50 day simple moving average is $32.09 and its 200-day simple moving average is $23.99. CymaBay Therapeutics has a 12-month low of $7.26 and a 12-month high of $32.50.

CymaBay Therapeutics (NASDAQ:CBAY) last announced its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The company had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.42 million. Research analysts forecast that CymaBay Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Activity at CymaBay Therapeutics

In related news, insider Charles Mcwherter sold 18,403 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $23.67, for a total transaction of $435,599.01. Following the sale, the insider now owns 15,000 shares of the company’s stock, valued at $355,050. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $31.97, for a total value of $191,820.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charles Mcwherter sold 18,403 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $23.67, for a total value of $435,599.01. Following the completion of the sale, the insider now directly owns 15,000 shares in the company, valued at $355,050. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of CymaBay Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CBAY. RA Capital Management L.P. acquired a new stake in CymaBay Therapeutics in the 3rd quarter worth about $103,475,000. BlackRock Inc. boosted its stake in CymaBay Therapeutics by 183.2% in the 2nd quarter. BlackRock Inc. now owns 7,504,670 shares of the biopharmaceutical company’s stock worth $82,176,000 after buying an additional 4,854,593 shares during the last quarter. Franklin Resources Inc. boosted its stake in CymaBay Therapeutics by 13,862.3% in the 1st quarter. Franklin Resources Inc. now owns 3,224,862 shares of the biopharmaceutical company’s stock worth $28,121,000 after buying an additional 3,201,765 shares during the last quarter. Perceptive Advisors LLC boosted its stake in CymaBay Therapeutics by 450.5% in the 1st quarter. Perceptive Advisors LLC now owns 3,903,255 shares of the biopharmaceutical company’s stock worth $34,036,000 after buying an additional 3,194,262 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of CymaBay Therapeutics by 134.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,465,161 shares of the biopharmaceutical company’s stock valued at $105,468,000 after purchasing an additional 2,561,460 shares in the last quarter. 95.03% of the stock is 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 primary biliary cholangitis (PBC).