Oppenheimer set a $12.00 price target on CymaBay Therapeutics (NASDAQ:CBAY) in a research report released on Tuesday morning, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

CBAY has been the subject of a number of other research reports. Piper Jaffray Companies set a $8.00 price target on shares of CymaBay Therapeutics and gave the stock a buy rating in a research note on Tuesday. ValuEngine cut shares of CymaBay Therapeutics from a strong-buy rating to a buy rating in a research note on Friday, June 7th. BidaskClub cut shares of CymaBay Therapeutics from a buy rating to a hold rating in a research note on Thursday, May 30th. Zacks Investment Research cut shares of CymaBay Therapeutics from a buy rating to a hold rating in a research note on Tuesday, May 14th. Finally, Citigroup started coverage on shares of CymaBay Therapeutics in a research note on Tuesday, May 14th. They set a buy rating and a $21.00 price target for the company. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $15.88.

Shares of NASDAQ:CBAY opened at $6.05 on Tuesday. The company has a current ratio of 18.66, a quick ratio of 18.66 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $790.67 million, a price-to-earnings ratio of -4.80 and a beta of 1.73. CymaBay Therapeutics has a 52 week low of $4.82 and a 52 week high of $15.00.

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

Several hedge funds have recently added to or reduced their stakes in CBAY. Raymond James & Associates lifted its holdings in shares of CymaBay Therapeutics by 7.7% in the 4th quarter. Raymond James & Associates now owns 82,205 shares of the biopharmaceutical company’s stock valued at $647,000 after acquiring an additional 5,899 shares during the last quarter. Bailard Inc. raised its position in CymaBay Therapeutics by 72.1% in the 1st quarter. Bailard Inc. now owns 215,100 shares of the biopharmaceutical company’s stock worth $2,857,000 after purchasing an additional 90,100 shares during the period. Foresite Capital Management IV LLC raised its position in CymaBay Therapeutics by 30.0% in the 4th quarter. Foresite Capital Management IV LLC now owns 2,631,258 shares of the biopharmaceutical company’s stock worth $20,708,000 after purchasing an additional 607,889 shares during the period. Geode Capital Management LLC raised its position in CymaBay Therapeutics by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 625,627 shares of the biopharmaceutical company’s stock worth $4,923,000 after purchasing an additional 32,337 shares during the period. Finally, BlackRock Inc. raised its position in CymaBay Therapeutics by 16.3% in the 4th quarter. BlackRock Inc. now owns 5,161,581 shares of the biopharmaceutical company’s stock worth $40,622,000 after purchasing an additional 722,753 shares during the period. Institutional investors own 99.53% of the company’s stock.

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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Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

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