CymaBay Therapeutics (NASDAQ:CBAY) PT Set at $12.00 by Oppenheimer

CymaBay Therapeutics (NASDAQ:CBAY) received a $12.00 price target from analysts at Oppenheimer in a note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target indicates a potential upside of 94.49% from the stock’s previous close.

A number of other brokerages also recently weighed in on CBAY. BidaskClub raised shares of CymaBay Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 1st. ValuEngine raised shares of CymaBay Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 1st. Zacks Investment Research raised shares of CymaBay Therapeutics from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, April 9th. Piper Jaffray Companies set a $30.00 price target on shares of CymaBay Therapeutics and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Raymond James set a $18.00 price target on shares of CymaBay Therapeutics and gave the company a “buy” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $15.44.

Shares of NASDAQ CBAY opened at $6.17 on Tuesday. CymaBay Therapeutics has a twelve month low of $4.82 and a twelve month high of $15.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 18.66 and a quick ratio of 18.66.

CymaBay Therapeutics (NASDAQ:CBAY) last announced its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). On average, equities analysts forecast that CymaBay Therapeutics will post -1.48 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of CymaBay Therapeutics by 16.3% during the fourth quarter. BlackRock Inc. now owns 5,161,581 shares of the biopharmaceutical company’s stock worth $40,622,000 after acquiring an additional 722,753 shares in the last quarter. Perceptive Advisors LLC increased its position in shares of CymaBay Therapeutics by 71.1% during the first quarter. Perceptive Advisors LLC now owns 4,212,821 shares of the biopharmaceutical company’s stock worth $55,946,000 after acquiring an additional 1,750,000 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of CymaBay Therapeutics by 5.6% during the first quarter. Eagle Asset Management Inc. now owns 3,011,623 shares of the biopharmaceutical company’s stock worth $39,994,000 after acquiring an additional 158,650 shares in the last quarter. Vanguard Group Inc. increased its position in shares of CymaBay Therapeutics by 4.1% during the third quarter. Vanguard Group Inc. now owns 2,789,188 shares of the biopharmaceutical company’s stock worth $30,903,000 after acquiring an additional 109,989 shares in the last quarter. Finally, Foresite Capital Management IV LLC increased its position in shares of CymaBay Therapeutics by 30.0% during the fourth quarter. Foresite Capital Management IV LLC now owns 2,631,258 shares of the biopharmaceutical company’s stock worth $20,708,000 after acquiring an additional 607,889 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

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, a selective agonist of peroxisome proliferator-activated receptor delta, which has completed Phase II clinical study for the treatment of primary biliary cholangitis, as well as patients with nonalcoholic steatohepatitis.

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