CymaBay Therapeutics Inc (NASDAQ:CBAY) – Oppenheimer raised their Q1 2020 earnings per share estimates for CymaBay Therapeutics in a note issued to investors on Wednesday, March 18th. Oppenheimer analyst J. Olson now anticipates that the biopharmaceutical company will post earnings per share of ($0.31) for the quarter, up from their prior estimate of ($0.37). Oppenheimer currently has a “Buy” rating and a $4.00 target price on the stock. Oppenheimer also issued estimates for CymaBay Therapeutics’ Q2 2020 earnings at ($0.31) EPS, Q3 2020 earnings at ($0.31) EPS, Q4 2020 earnings at ($0.32) EPS, FY2020 earnings at ($1.26) EPS, FY2021 earnings at ($1.51) EPS, FY2022 earnings at ($1.33) EPS, FY2023 earnings at ($1.01) EPS and FY2024 earnings at ($0.64) EPS.
CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings results on Thursday, March 12th. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.04).
CBAY has been the subject of several other research reports. Evercore ISI reiterated a “buy” rating and issued a $12.00 price target on shares of CymaBay Therapeutics in a research report on Sunday, November 24th. HC Wainwright reiterated a “hold” rating on shares of CymaBay Therapeutics in a research report on Thursday, January 30th. Raymond James lowered CymaBay Therapeutics from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 26th. B. Riley dropped their price target on CymaBay Therapeutics from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Finally, SVB Leerink reiterated a “market perform” rating on shares of CymaBay Therapeutics in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. CymaBay Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $5.49.
CBAY opened at $1.40 on Monday. The firm has a market cap of $90.24 million, a P/E ratio of -0.92 and a beta of 1.11. CymaBay Therapeutics has a 12 month low of $1.21 and a 12 month high of $13.89. The company has a current ratio of 11.51, a quick ratio of 13.12 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $1.60 and a 200 day moving average of $3.21.
A number of hedge funds and other institutional investors have recently made changes to their positions in CBAY. Engine Capital Management LP bought a new stake in CymaBay Therapeutics in the fourth quarter worth about $9,769,000. Millennium Management LLC lifted its stake in CymaBay Therapeutics by 401.5% in the third quarter. Millennium Management LLC now owns 3,723,797 shares of the biopharmaceutical company’s stock worth $19,065,000 after purchasing an additional 2,981,292 shares during the last quarter. LMR Partners LLP bought a new stake in CymaBay Therapeutics in the fourth quarter worth about $1,746,000. Boxer Capital LLC lifted its stake in CymaBay Therapeutics by 60.0% in the fourth quarter. Boxer Capital LLC now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $3,920,000 after purchasing an additional 750,000 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in CymaBay Therapeutics by 135.4% in the fourth quarter. Nuveen Asset Management LLC now owns 783,188 shares of the biopharmaceutical company’s stock worth $1,535,000 after purchasing an additional 450,435 shares during the last quarter. 85.32% of the stock is owned by institutional investors and hedge funds.
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, 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.