CymaBay Therapeutics (NASDAQ:CBAY) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of CymaBay Therapeutics (NASDAQ:CBAYGet Rating) from a hold rating to a sell rating in a report published on Tuesday.

A number of other analysts have also commented on the company. Zacks Investment Research lowered CymaBay Therapeutics from a buy rating to a hold rating in a report on Wednesday, January 19th. Cantor Fitzgerald reissued an overweight rating on shares of CymaBay Therapeutics in a report on Friday, April 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $9.63.

CBAY stock opened at $1.87 on Tuesday. The stock’s 50 day simple moving average is $2.92 and its 200 day simple moving average is $3.27. CymaBay Therapeutics has a fifty-two week low of $1.73 and a fifty-two week high of $5.06. The company has a market cap of $158.35 million, a P/E ratio of -1.48 and a beta of 1.08.

CymaBay Therapeutics (NASDAQ:CBAYGet Rating) last posted its quarterly earnings results on Thursday, March 17th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. During the same period last year, the company earned ($0.23) EPS. Equities analysts predict that CymaBay Therapeutics will post -1.25 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. TCG Crossover Management LLC bought a new position in shares of CymaBay Therapeutics in the fourth quarter valued at approximately $19,960,000. Commodore Capital LP grew its holdings in shares of CymaBay Therapeutics by 30.0% in the fourth quarter. Commodore Capital LP now owns 5,419,896 shares of the biopharmaceutical company’s stock valued at $18,319,000 after acquiring an additional 1,250,000 shares in the last quarter. BlackRock Inc. grew its holdings in shares of CymaBay Therapeutics by 2.3% in the fourth quarter. BlackRock Inc. now owns 5,324,128 shares of the biopharmaceutical company’s stock valued at $17,994,000 after acquiring an additional 118,650 shares in the last quarter. Millennium Management LLC grew its holdings in shares of CymaBay Therapeutics by 5.7% in the fourth quarter. Millennium Management LLC now owns 2,070,787 shares of the biopharmaceutical company’s stock valued at $6,999,000 after acquiring an additional 112,134 shares in the last quarter. Finally, DAFNA Capital Management LLC grew its holdings in shares of CymaBay Therapeutics by 241.0% in the fourth quarter. DAFNA Capital Management LLC now owns 1,787,569 shares of the biopharmaceutical company’s stock valued at $6,042,000 after acquiring an additional 1,263,283 shares in the last quarter. 78.34% of the stock is owned by institutional investors.

CymaBay Therapeutics Company Profile (Get Rating)

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 that is in phase III clinical study for the treatments of primary biliary cholangitis (PBC), as well as has completed Phase 2b clinical study to treat patients with nonalcoholic steatohepatitis.

Further Reading

Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

Receive News & Ratings for CymaBay Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CymaBay Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.