Piper Jaffray Comments on CymaBay Therapeutics’ Q1 2018 Earnings (CBAY)

CymaBay Therapeutics (NASDAQ:CBAY) – Piper Jaffray dropped their Q1 2018 earnings per share (EPS) estimates for CymaBay Therapeutics in a research report issued to clients and investors on Wednesday, April 11th. Piper Jaffray analyst E. Tenthoff now expects that the biopharmaceutical company will post earnings per share of ($0.07) for the quarter, down from their previous estimate of ($0.05). Piper Jaffray currently has a “Buy” rating and a $16.00 price target on the stock. Piper Jaffray also issued estimates for CymaBay Therapeutics’ Q2 2018 earnings at ($0.17) EPS, Q3 2018 earnings at ($0.18) EPS, Q4 2018 earnings at ($0.22) EPS, FY2018 earnings at ($0.65) EPS, Q1 2019 earnings at ($0.27) EPS, Q2 2019 earnings at ($0.28) EPS, Q3 2019 earnings at ($0.28) EPS, Q4 2019 earnings at ($0.30) EPS and FY2019 earnings at ($1.13) EPS.

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CBAY has been the subject of several other reports. HC Wainwright upped their target price on CymaBay Therapeutics to $21.00 and gave the company a “buy” rating in a research note on Friday. BidaskClub upgraded CymaBay Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 21st. Oppenheimer set a $15.00 target price on CymaBay Therapeutics and gave the company a “buy” rating in a research note on Wednesday, January 10th. SunTrust Banks reiterated a “buy” rating and issued a $19.00 target price on shares of CymaBay Therapeutics in a research note on Friday, March 16th. Finally, Zacks Investment Research lowered CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $18.78.

CymaBay Therapeutics stock opened at $13.12 on Monday. The firm has a market capitalization of $789.77, a P/E ratio of -16.61 and a beta of 2.06. CymaBay Therapeutics has a 52 week low of $3.16 and a 52 week high of $15.59. The company has a quick ratio of 6.35, a current ratio of 6.35 and a debt-to-equity ratio of 0.04.

CymaBay Therapeutics (NASDAQ:CBAY) last released its earnings results on Thursday, March 15th. The biopharmaceutical company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.06. The business had revenue of $5.20 million during the quarter, compared to analyst estimates of $1.25 million.

In other CymaBay Therapeutics news, Director Kurt Von Emster sold 138,253 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $10.40, for a total transaction of $1,437,831.20. Following the completion of the sale, the director now owns 90,000 shares of the company’s stock, valued at $936,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carl Goldfischer sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $13.03, for a total value of $195,450.00. Following the sale, the director now directly owns 9,340 shares of the company’s stock, valued at approximately $121,700.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 815,648 shares of company stock valued at $10,283,751. 15.10% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. J. Goldman & Co LP grew its position in CymaBay Therapeutics by 4.9% during the fourth quarter. J. Goldman & Co LP now owns 559,000 shares of the biopharmaceutical company’s stock valued at $5,143,000 after acquiring an additional 26,000 shares during the period. Redmile Group LLC grew its position in CymaBay Therapeutics by 21.6% during the fourth quarter. Redmile Group LLC now owns 2,002,265 shares of the biopharmaceutical company’s stock valued at $18,421,000 after acquiring an additional 355,165 shares during the period. Nexthera Capital LP grew its position in CymaBay Therapeutics by 3,477.1% during the fourth quarter. Nexthera Capital LP now owns 536,568 shares of the biopharmaceutical company’s stock valued at $4,936,000 after acquiring an additional 521,568 shares during the period. Raymond James & Associates grew its position in CymaBay Therapeutics by 50.6% during the fourth quarter. Raymond James & Associates now owns 53,148 shares of the biopharmaceutical company’s stock valued at $489,000 after acquiring an additional 17,848 shares during the period. Finally, Ardsley Advisory Partners grew its position in CymaBay Therapeutics by 612.1% during the fourth quarter. Ardsley Advisory Partners now owns 500,000 shares of the biopharmaceutical company’s stock valued at $4,600,000 after acquiring an additional 429,790 shares during the period. 58.15% of the stock is owned by hedge funds and other institutional investors.

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About CymaBay Therapeutics

Cymabay Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to treat specialty and orphan diseases. It engages in developing seladelpar (MBX-8025), a selective agonist of peroxisome proliferator-activated receptor delta, which has completed Phase 2 clinical study for the treatment of primary biliary cholangitis and homozygous familial hypercholesterolemia; and arhalofenate, which completed five Phase II clinical trials for the treatment of gout.

Earnings History and Estimates for CymaBay Therapeutics (NASDAQ:CBAY)

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