CymaBay Therapeutics, Inc. Forecasted to Post FY2023 Earnings of ($0.97) Per Share (NASDAQ:CBAY)

CymaBay Therapeutics, Inc. (NASDAQ:CBAY) – Stock analysts at William Blair increased their FY2023 earnings per share (EPS) estimates for shares of CymaBay Therapeutics in a report issued on Tuesday, November 7th. William Blair analyst A. Hsieh now forecasts that the biopharmaceutical company will post earnings per share of ($0.97) for the year, up from their prior forecast of ($1.02). The consensus estimate for CymaBay Therapeutics’ current full-year earnings is ($0.92) per share. William Blair also issued estimates for CymaBay Therapeutics’ Q4 2023 earnings at ($0.35) EPS, Q1 2024 earnings at ($0.37) EPS, Q2 2024 earnings at ($0.45) EPS, Q3 2024 earnings at ($0.53) EPS, Q4 2024 earnings at ($0.59) EPS, FY2024 earnings at ($1.93) EPS and FY2025 earnings at ($2.80) EPS.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). During the same period last year, the company earned ($0.28) earnings per share.

A number of other analysts have also commented on CBAY. Cantor Fitzgerald lifted their target price on CymaBay Therapeutics from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday. Raymond James lifted their target price on CymaBay Therapeutics from $33.00 to $34.00 and gave the stock a “strong-buy” rating in a report on Wednesday. BTIG Research raised their price target on CymaBay Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. B. Riley raised their price target on CymaBay Therapeutics from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. Finally, UBS Group raised their price target on CymaBay Therapeutics from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.27.

CymaBay Therapeutics Stock Up 9.7 %

CymaBay Therapeutics stock opened at $16.30 on Friday. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -17.72 and a beta of 0.29. The stock has a fifty day simple moving average of $15.09 and a two-hundred day simple moving average of $12.23. CymaBay Therapeutics has a 12 month low of $3.17 and a 12 month high of $18.20. The company has a current ratio of 22.76, a quick ratio of 12.52 and a debt-to-equity ratio of 0.32.

Institutional Trading of CymaBay Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System bought a new stake in shares of CymaBay Therapeutics during the 1st quarter valued at $214,000. Mirabella Financial Services LLP raised its position in shares of CymaBay Therapeutics by 133.9% during the 1st quarter. Mirabella Financial Services LLP now owns 58,180 shares of the biopharmaceutical company’s stock valued at $507,000 after purchasing an additional 33,307 shares during the period. California State Teachers Retirement System bought a new stake in shares of CymaBay Therapeutics during the 1st quarter valued at $649,000. Moody Aldrich Partners LLC bought a new stake in shares of CymaBay Therapeutics during the 2nd quarter valued at $1,263,000. Finally, Victory Capital Management Inc. bought a new stake in shares of CymaBay Therapeutics during the 1st quarter valued at $88,000. 95.03% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Charles Mcwherter sold 21,746 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $11.47, for a total value of $249,426.62. Following the completion of the sale, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $172,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other CymaBay Therapeutics news, insider Charles Mcwherter sold 21,746 shares of CymaBay Therapeutics stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $11.47, for a total transaction of $249,426.62. Following the transaction, the insider now owns 15,000 shares of the company’s stock, valued at $172,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sujal Shah sold 64,861 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $14.20, for a total transaction of $921,026.20. Following the completion of the transaction, the chief executive officer now owns 171,301 shares of the company’s stock, valued at $2,432,474.20. The disclosure for this sale can be found here. Insiders have sold a total of 209,017 shares of company stock valued at $3,101,198 in the last ninety days. Corporate insiders own 7.00% of the company’s stock.

CymaBay Therapeutics Company Profile

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).