Zacks Investment Research upgraded shares of CymaBay Therapeutics (NASDAQ:CBAY) from a hold rating to a buy rating in a research report released on Tuesday. Zacks Investment Research currently has $11.00 price target on the biopharmaceutical company’s stock.

According to Zacks, “CymaBay Therapeutics Inc. is a biopharmaceutical company. It is focused on the development and commercialization of proprietary new medicines for important human diseases. The Company’s lead product candidate, arhalofenate, is being developed for the treatment of gout. CymaBay Therapeutics Inc. is based in Newark, California. “

Several other equities analysts also recently commented on CBAY. BidaskClub upgraded shares of CymaBay Therapeutics from a sell rating to a hold rating in a report on Friday, November 2nd. HC Wainwright reaffirmed a buy rating on shares of CymaBay Therapeutics in a research report on Monday, November 19th. Cantor Fitzgerald set a $17.00 price target on shares of CymaBay Therapeutics and gave the company a buy rating in a research report on Wednesday, November 7th. Finally, Oppenheimer set a $18.00 price target on shares of CymaBay Therapeutics and gave the company a buy rating in a research report on Wednesday, November 7th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average price target of $20.56.

CBAY stock traded down $0.20 during trading on Tuesday, hitting $9.55. 317,318 shares of the stock traded hands, compared to its average volume of 391,087. The company has a market capitalization of $581.32 million, a P/E ratio of -12.09 and a beta of 1.78. CymaBay Therapeutics has a one year low of $6.31 and a one year high of $15.59.

CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.04). As a group, equities research analysts predict that CymaBay Therapeutics will post -1.29 earnings per share for the current year.

In related news, Director Kurt Von Emster sold 142,381 shares of the business’s stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $7.89, for a total transaction of $1,123,386.09. Following the transaction, the director now directly owns 90,000 shares in the company, valued at approximately $710,100. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sujal Shah bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 21st. The shares were acquired at an average price of $6.54 per share, for a total transaction of $65,400.00. Following the completion of the purchase, the chief executive officer now owns 110,000 shares in the company, valued at $719,400. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in CymaBay Therapeutics by 9.5% in the third quarter. BlackRock Inc. now owns 4,438,828 shares of the biopharmaceutical company’s stock worth $49,184,000 after acquiring an additional 384,543 shares during the period. Redmile Group LLC grew its holdings in shares of CymaBay Therapeutics by 1.2% during the third quarter. Redmile Group LLC now owns 2,993,565 shares of the biopharmaceutical company’s stock worth $33,169,000 after purchasing an additional 35,800 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of CymaBay Therapeutics by 37.9% during the third quarter. Eagle Asset Management Inc. now owns 2,844,766 shares of the biopharmaceutical company’s stock worth $31,520,000 after buying an additional 781,700 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 buying an additional 109,989 shares during the last quarter. Finally, Vanguard Group Inc boosted its holdings in CymaBay Therapeutics by 4.1% in the 3rd quarter. Vanguard Group Inc now owns 2,789,188 shares of the biopharmaceutical company’s stock valued at $30,903,000 after purchasing an additional 109,989 shares in the last quarter. 94.57% of the stock is owned by institutional investors.

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.

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