Brokers Set Expectations for CymaBay Therapeutics, Inc.’s FY2023 Earnings (NASDAQ:CBAY)
CymaBay Therapeutics, Inc. (NASDAQ:CBAY – Get Rating) – Research analysts at Cantor Fitzgerald issued their FY2023 earnings per share (EPS) estimates for CymaBay Therapeutics in a report released on Monday, June 6th. Cantor Fitzgerald analyst K. Kluska expects that the biopharmaceutical company will post earnings of ($1.45) per share for the year. Cantor Fitzgerald has a “Overweight” rating on the stock. CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) last issued its earnings results on Thursday, May 12th. The biopharmaceutical company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). During the same period in the prior year, the firm posted ($0.25) EPS.
Other equities analysts have also recently issued research reports about the stock. B. Riley decreased their price objective on shares of CymaBay Therapeutics from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, May 18th. StockNews.com cut shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. HC Wainwright reduced their price target on shares of CymaBay Therapeutics from $12.00 to $10.00 and set a “na” rating on the stock in a research report on Monday, May 16th. Finally, Oppenheimer reduced their price target on shares of CymaBay Therapeutics to $12.00 and set a “na” rating on the stock in a research report on Monday, May 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $9.39.
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CBAY stock opened at $2.32 on Wednesday. The firm’s 50-day moving average price is $2.42 and its two-hundred day moving average price is $2.97. CymaBay Therapeutics has a 12-month low of $1.67 and a 12-month high of $5.06. The company has a debt-to-equity ratio of 0.73, a quick ratio of 13.68 and a current ratio of 13.68.
Several hedge funds and other institutional investors have recently made changes to their positions in CBAY. Morgan Stanley increased its stake in shares of CymaBay Therapeutics by 53.5% in the first quarter. Morgan Stanley now owns 116,176 shares of the biopharmaceutical company’s stock worth $527,000 after purchasing an additional 40,484 shares in the last quarter. Barclays PLC boosted its position in shares of CymaBay Therapeutics by 215.4% during the third quarter. Barclays PLC now owns 28,332 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 19,348 shares during the last quarter. Citigroup Inc. boosted its position in shares of CymaBay Therapeutics by 54.2% during the third quarter. Citigroup Inc. now owns 12,024 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 4,225 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of CymaBay Therapeutics by 25.3% during the third quarter. Rockefeller Capital Management L.P. now owns 124,000 shares of the biopharmaceutical company’s stock worth $452,000 after acquiring an additional 25,000 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of CymaBay Therapeutics by 102.2% during the third quarter. GSA Capital Partners LLP now owns 264,224 shares of the biopharmaceutical company’s stock worth $964,000 after acquiring an additional 133,552 shares during the last quarter. 78.34% of the stock is owned by hedge funds and other institutional investors.
In other CymaBay Therapeutics news, CEO Sujal Shah bought 51,301 shares of CymaBay Therapeutics stock in a transaction on Monday, June 6th. The stock was acquired at an average cost of $1.95 per share, with a total value of $100,036.95. Following the completion of the acquisition, the chief executive officer now owns 171,301 shares in the company, valued at $334,036.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.50% of the company’s stock.
CymaBay Therapeutics Company Profile (Get Rating)
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 (MBX-8025), a selective agonist of peroxisome proliferator activated receptor delta that is in phase III clinical study for the treatments of primary biliary cholangitis (PBC), as well as has completed Phase 2b clinical study to treat patients with nonalcoholic steatohepatitis.
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