CymaBay Therapeutics (NASDAQ:CBAY) Reaches New 1-Year Low on Analyst Downgrade

CymaBay Therapeutics Inc (NASDAQ:CBAY)’s share price reached a new 52-week low during trading on Tuesday after BidaskClub downgraded the stock from a hold rating to a sell rating. The company traded as low as $4.82 and last traded at $5.38, with a volume of 5745570 shares. The stock had previously closed at $11.09.

A number of other equities analysts have also commented on the company. B. Riley set a $11.00 price objective on CymaBay Therapeutics and gave the stock a “hold” rating in a research note on Tuesday. Oppenheimer set a $12.00 price objective on CymaBay Therapeutics and gave the stock a “buy” rating in a research note on Tuesday. Piper Jaffray Companies lowered their price objective on CymaBay Therapeutics from $30.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday. ValuEngine lowered CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th. Finally, Zacks Investment Research lowered CymaBay Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $15.44.

Several institutional investors and hedge funds have recently modified their holdings of CBAY. Advisor Group Inc. increased its stake in shares of CymaBay Therapeutics by 281.9% in the 1st quarter. Advisor Group Inc. now owns 2,601 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 1,920 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of CymaBay Therapeutics by 307.3% in the 1st quarter. Meeder Asset Management Inc. now owns 2,839 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,142 shares during the last quarter. Pearl River Capital LLC bought a new position in shares of CymaBay Therapeutics in the 4th quarter valued at $74,000. D. E. Shaw & Co. Inc. bought a new position in shares of CymaBay Therapeutics in the 4th quarter valued at $82,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of CymaBay Therapeutics by 23.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,120 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 2,460 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 18.66 and a current ratio of 18.66.

CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.03). As a group, equities research analysts forecast that CymaBay Therapeutics Inc will post -1.48 EPS for the current fiscal year.

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CymaBay Therapeutics Company Profile (NASDAQ:CBAY)

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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