HC Wainwright Reiterates “Buy” Rating for CymaBay Therapeutics (NASDAQ:CBAY)

CymaBay Therapeutics (NASDAQ:CBAY)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $21.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 29.31% from the stock’s previous close.

Several other research analysts have also commented on the company. StockNews.com upgraded CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Raymond James raised their price target on CymaBay Therapeutics from $17.00 to $33.00 and gave the stock a “strong-buy” rating in a report on Thursday. UBS Group began coverage on CymaBay Therapeutics in a report on Monday, August 14th. They issued a “buy” rating and a $18.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price target on shares of CymaBay Therapeutics in a report on Thursday, August 31st. Finally, Guggenheim assumed coverage on CymaBay Therapeutics in a report on Friday, August 11th. They issued a “buy” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CymaBay Therapeutics has an average rating of “Buy” and a consensus price target of $19.18.

CymaBay Therapeutics Stock Up 8.2 %

CymaBay Therapeutics stock opened at $16.24 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 12.52 and a current ratio of 12.52. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -18.45 and a beta of 0.35. CymaBay Therapeutics has a fifty-two week low of $3.15 and a fifty-two week high of $17.38. The stock’s fifty day moving average is $12.52 and its two-hundred day moving average is $10.28.

CymaBay Therapeutics (NASDAQ:CBAY) last announced its earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.20. The company had revenue of $31.02 million for the quarter, compared to analysts’ expectations of $30.78 million. Analysts predict that CymaBay Therapeutics will post -0.94 EPS for the current fiscal year.

Insider Activity at CymaBay Therapeutics

In related news, insider Charles Mcwherter sold 21,749 shares of the business’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $8.16, for a total transaction of $177,471.84. Following the transaction, the insider now directly owns 15,000 shares in the company, valued at $122,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Paul T. Quinlan sold 5,000 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $10.05, for a total transaction of $50,250.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Charles Mcwherter sold 21,749 shares of the stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $8.16, for a total value of $177,471.84. Following the transaction, the insider now owns 15,000 shares of the company’s stock, valued at approximately $122,400. The disclosure for this sale can be found here. Insiders have sold 101,189 shares of company stock worth $1,103,010 over the last three months. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On CymaBay Therapeutics

Several hedge funds have recently bought and sold shares of CBAY. BlackRock Inc. lifted 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 valued at $82,176,000 after purchasing an additional 4,854,593 shares during the last quarter. Franklin Resources Inc. lifted 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 valued at $28,121,000 after purchasing an additional 3,201,765 shares during the last quarter. Perceptive Advisors LLC lifted 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 valued at $34,036,000 after purchasing an additional 3,194,262 shares during the last quarter. Cormorant Asset Management LP lifted its stake in CymaBay Therapeutics by 198.9% in the 2nd quarter. Cormorant Asset Management LP now owns 3,800,000 shares of the biopharmaceutical company’s stock valued at $41,610,000 after purchasing an additional 2,528,571 shares during the last quarter. Finally, Bain Capital Life Sciences Investors LLC acquired a new stake in CymaBay Therapeutics during the first quarter worth approximately $21,800,000. 95.03% of the stock is currently 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 autoimmune liver disease, primary biliary cholangitis (PBC).