Stifel Nicolaus Begins Coverage on CymaBay Therapeutics (NASDAQ:CBAY)

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Stifel Nicolaus assumed coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a research report released on Monday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $14.00 target price on the biopharmaceutical company’s stock.

Several other research firms have also recently issued reports on CBAY. Zacks Investment Research raised CymaBay Therapeutics from a sell rating to a hold rating in a research note on Friday, March 1st. BidaskClub cut CymaBay Therapeutics from a strong-buy rating to a buy rating in a research note on Thursday, April 11th. ValuEngine cut CymaBay Therapeutics from a strong-buy rating to a buy rating in a research note on Thursday, April 11th. Cantor Fitzgerald set a $20.00 target price on CymaBay Therapeutics and gave the company a buy rating in a research note on Sunday, April 14th. Finally, Piper Jaffray Companies set a $30.00 target price on CymaBay Therapeutics and gave the company a buy rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $14.00.

Shares of CBAY stock opened at $6.68 on Monday. The company has a quick ratio of 18.66, a current ratio of 18.66 and a debt-to-equity ratio of 0.01. CymaBay Therapeutics has a fifty-two week low of $4.82 and a fifty-two week high of $14.94. The company has a 50 day moving average of $10.56. The company has a market capitalization of $458.88 million, a P/E ratio of -5.30 and a beta of 1.73.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. increased its stake in shares of CymaBay Therapeutics by 307.3% during the first quarter. Meeder Asset Management Inc. now owns 2,839 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 2,142 shares during the period. PNC Financial Services Group Inc. grew its stake in CymaBay Therapeutics by 23.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,120 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 2,460 shares during the period. Bank of America Corp DE grew its stake in CymaBay Therapeutics by 1.5% in the fourth quarter. Bank of America Corp DE now owns 164,192 shares of the biopharmaceutical company’s stock worth $1,291,000 after purchasing an additional 2,478 shares during the period. Citigroup Inc. grew its stake in CymaBay Therapeutics by 17.7% in the fourth quarter. Citigroup Inc. now owns 19,966 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 3,000 shares during the period. Finally, Raymond James & Associates grew its stake in CymaBay Therapeutics by 7.7% in the fourth quarter. Raymond James & Associates now owns 82,205 shares of the biopharmaceutical company’s stock worth $647,000 after purchasing an additional 5,899 shares during the period. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

About CymaBay Therapeutics

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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