CymaBay Therapeutics, Inc. (NASDAQ:CBAY – Get Rating) hit a new 52-week high during mid-day trading on Friday after HC Wainwright raised their price target on the stock from $10.00 to $12.00. The company traded as high as $9.72 and last traded at $9.55, with a volume of 288384 shares traded. The stock had previously closed at $9.14.
A number of other research analysts also recently issued reports on the stock. Piper Sandler boosted their target price on shares of CymaBay Therapeutics from $12.00 to $19.00 and gave the company an “overweight” rating in a research report on Sunday, January 29th. Oppenheimer boosted their target price on shares of CymaBay Therapeutics from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, March 7th. SVB Leerink boosted their target price 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. Raymond James boosted their target price on shares of CymaBay Therapeutics from $14.00 to $17.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 17th. Finally, StockNews.com started coverage on shares of CymaBay Therapeutics in a research report on Thursday. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $13.50.
Hedge Funds Weigh In On CymaBay Therapeutics
Several institutional investors have recently added to or reduced their stakes in CBAY. Royal Bank of Canada lifted its holdings in CymaBay Therapeutics by 506.5% during the third quarter. Royal Bank of Canada now owns 7,581 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 6,331 shares during the last quarter. Jane Street Group LLC purchased a new stake in CymaBay Therapeutics during the second quarter valued at about $36,000. Dorsey Wright & Associates purchased a new stake in CymaBay Therapeutics during the fourth quarter valued at about $39,000. Verition Fund Management LLC purchased a new stake in CymaBay Therapeutics during the second quarter valued at about $47,000. Finally, XTX Topco Ltd purchased a new stake in CymaBay Therapeutics during the first quarter valued at about $53,000. Institutional investors own 73.54% of the company’s stock.
CymaBay Therapeutics Stock Performance
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 (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.30). During the same quarter in the previous year, the company earned ($0.34) earnings per share. As a group, equities research analysts expect that CymaBay Therapeutics, Inc. will post -0.94 EPS for the current fiscal year.
About CymaBay Therapeutics
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.
Further Reading
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