Cantor Fitzgerald Weighs in on CymaBay Therapeutics, Inc.’s FY2022 Earnings (NASDAQ:CBAY)

CymaBay Therapeutics, Inc. (NASDAQ:CBAY – Get Rating) – Equities researchers at Cantor Fitzgerald reduced their FY2022 EPS estimates for CymaBay Therapeutics in a research report issued on Monday, January 16th. Cantor Fitzgerald analyst K. Kluska now forecasts that the biopharmaceutical company will earn ($1.18) per share for the year, down from their previous forecast of ($0.84). The consensus estimate for CymaBay Therapeutics’ current full-year earnings is ($1.18) per share. Cantor Fitzgerald also issued estimates for CymaBay Therapeutics’ FY2023 earnings at ($0.87) EPS.

Other research analysts have also issued research reports about the stock. StockNews.com assumed coverage on shares of CymaBay Therapeutics in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Oppenheimer reduced their price target on shares of CymaBay Therapeutics to $10.00 in a report on Thursday, November 17th. Finally, Raymond James increased their price target on shares of CymaBay Therapeutics from $14.00 to $17.00 and gave the company a “strong-buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CymaBay Therapeutics has a consensus rating of “Buy” and an average target price of $11.25.

CymaBay Therapeutics Stock Up 0.1 %

CymaBay Therapeutics stock opened at $6.68 on Thursday. The firm has a market cap of $565.65 million, a PE ratio of -5.34 and a beta of 0.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 12.20 and a current ratio of 12.20. The firm’s 50 day moving average price is $4.75 and its two-hundred day moving average price is $3.95. CymaBay Therapeutics has a twelve month low of $1.67 and a twelve month high of $7.06.

CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) last released its quarterly earnings results on Monday, November 14th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02.

Institutional Investors Weigh In On CymaBay Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in CymaBay Therapeutics by 26.3% during the 1st quarter. Raymond James & Associates now owns 97,604 shares of the biopharmaceutical company’s stock worth $304,000 after acquiring an additional 20,337 shares during the last quarter. Bank of New York Mellon Corp raised its stake in CymaBay Therapeutics by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 276,766 shares of the biopharmaceutical company’s stock worth $861,000 after acquiring an additional 21,961 shares in the last quarter. MetLife Investment Management LLC acquired a new position in CymaBay Therapeutics during the first quarter worth about $163,000. BlackRock Inc. increased its stake in shares of CymaBay Therapeutics by 2.7% in the first quarter. BlackRock Inc. now owns 5,466,209 shares of the biopharmaceutical company’s stock valued at $16,998,000 after buying an additional 142,081 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in CymaBay Therapeutics by 18.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 940,806 shares of the biopharmaceutical company’s stock valued at $2,926,000 after purchasing an additional 145,965 shares during the period. Institutional investors and hedge funds own 73.54% of the company’s stock.

CymaBay Therapeutics Company Profile

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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.