Cantor Fitzgerald Comments on CymaBay Therapeutics, Inc.’s FY2023 Earnings (NASDAQ:CBAY)

CymaBay Therapeutics, Inc. (NASDAQ:CBAY – Get Rating) – Equities research analysts at Cantor Fitzgerald issued their FY2023 EPS estimates for CymaBay Therapeutics in a report released on Monday, June 6th. Cantor Fitzgerald analyst K. Kluska anticipates that the biopharmaceutical company will earn ($1.45) per share for the year. Cantor Fitzgerald has a “Overweight” rating on the stock.

CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) last released its quarterly earnings data on Thursday, May 12th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). During the same quarter in the previous year, the firm posted ($0.25) EPS.

A number of other brokerages have also weighed in on CBAY. HC Wainwright dropped their target price on shares of CymaBay Therapeutics from $12.00 to $10.00 and set a “na” rating for the company in a research report on Monday, May 16th. StockNews.com downgraded shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. B. Riley cut their target price on shares of CymaBay Therapeutics from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, May 18th. Finally, Oppenheimer cut their price objective on shares of CymaBay Therapeutics to $12.00 and set a “na” rating on the stock in a research report on Monday, May 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $9.39.

Shares of CymaBay Therapeutics stock opened at $2.32 on Wednesday. CymaBay Therapeutics has a twelve month low of $1.67 and a twelve month high of $5.06. The company has a debt-to-equity ratio of 0.73, a quick ratio of 13.68 and a current ratio of 13.68. The company’s 50 day moving average is $2.42 and its 200 day moving average is $2.97.

In other news, CEO Sujal Shah acquired 51,301 shares of CymaBay Therapeutics stock in a transaction dated Monday, June 6th. The shares were acquired at an average cost of $1.95 per share, with a total value of $100,036.95. Following the purchase, the chief executive officer now directly owns 171,301 shares of the company’s stock, valued at approximately $334,036.95. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in CymaBay Therapeutics by 39.9% during the 3rd quarter. Royal Bank of Canada now owns 8,606 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 2,456 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of CymaBay Therapeutics in the first quarter valued at $31,000. Nisa Investment Advisors LLC lifted its holdings in shares of CymaBay Therapeutics by 810.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,470 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 9,320 shares during the period. Citigroup Inc. lifted its holdings in shares of CymaBay Therapeutics by 54.2% in the third quarter. Citigroup Inc. now owns 12,024 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 4,225 shares during the period. Finally, Bailard Inc. acquired a new stake in shares of CymaBay Therapeutics in the fourth quarter valued at $46,000. Institutional investors own 78.34% of the company’s stock.

About CymaBay Therapeutics (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.

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