CymaBay Therapeutics (NASDAQ:CBAY) Price Target Increased to $12.00 by Analysts at HC Wainwright

CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) had its price target raised by investment analysts at HC Wainwright from $10.00 to $12.00 in a research report issued on Friday, The Fly reports. HC Wainwright’s target price indicates a potential upside of 25.13% from the stock’s previous close.

CBAY has been the topic of several other research reports. SVB Leerink raised their price target on shares of CymaBay Therapeutics from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. Cantor Fitzgerald raised their price target on shares of CymaBay Therapeutics from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Tuesday, January 31st. StockNews.com started coverage on shares of CymaBay Therapeutics in a research report on Thursday. They set a “hold” rating on the stock. BTIG Research started coverage on shares of CymaBay Therapeutics in a research report on Thursday, March 9th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Piper Sandler lifted their target price on shares of CymaBay Therapeutics from $12.00 to $19.00 and gave the stock an “overweight” rating in a research report on Sunday, January 29th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $13.50.

CymaBay Therapeutics Price Performance

Shares of NASDAQ CBAY opened at $9.59 on Friday. CymaBay Therapeutics has a fifty-two week low of $1.67 and a fifty-two week high of $10.05. The stock has a market cap of $812.08 million, a price-to-earnings ratio of -7.67 and a beta of 0.29. 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 simple moving average is $7.97 and its 200 day simple moving average is $5.32.

CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) last announced its quarterly earnings results on Thursday, March 16th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, meeting the consensus estimate of ($0.30). During the same quarter in the prior year, the firm posted ($0.34) earnings per share. As a group, research analysts anticipate that CymaBay Therapeutics will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CymaBay Therapeutics

Several large investors have recently modified their holdings of the stock. Jane Street Group LLC increased its stake in shares of CymaBay Therapeutics by 910.2% during the 4th quarter. Jane Street Group LLC now owns 113,683 shares of the biopharmaceutical company’s stock worth $713,000 after purchasing an additional 102,430 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of CymaBay Therapeutics during the 4th quarter worth approximately $763,000. Morgan Stanley increased its stake in shares of CymaBay Therapeutics by 25.4% during the 4th quarter. Morgan Stanley now owns 273,079 shares of the biopharmaceutical company’s stock worth $1,712,000 after purchasing an additional 55,377 shares during the last quarter. Man Group plc purchased a new stake in shares of CymaBay Therapeutics during the 4th quarter worth approximately $147,000. Finally, EAM Global Investors LLC purchased a new stake in shares of CymaBay Therapeutics during the 4th quarter worth approximately $1,955,000. Hedge funds and other institutional investors own 73.54% of the company’s stock.

About CymaBay Therapeutics

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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.