CymaBay Therapeutics, Inc. Forecasted to Post Q1 2024 Earnings of ($0.35) Per Share (NASDAQ:CBAY)

CymaBay Therapeutics, Inc. (NASDAQ:CBAYFree Report) – Research analysts at Leerink Partnrs issued their Q1 2024 earnings estimates for shares of CymaBay Therapeutics in a note issued to investors on Monday, February 5th. Leerink Partnrs analyst T. Smith forecasts that the biopharmaceutical company will post earnings of ($0.35) per share for the quarter. The consensus estimate for CymaBay Therapeutics’ current full-year earnings is ($0.95) per share. Leerink Partnrs also issued estimates for CymaBay Therapeutics’ Q2 2024 earnings at ($0.39) EPS, Q3 2024 earnings at ($0.44) EPS, Q4 2024 earnings at ($0.38) EPS and FY2027 earnings at $0.82 EPS.

CymaBay Therapeutics (NASDAQ:CBAYGet Free Report) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). During the same period in the previous year, the business earned ($0.28) EPS.

A number of other brokerages have also recently weighed in on CBAY. Cantor Fitzgerald lifted their price target on shares of CymaBay Therapeutics from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 8th. StockNews.com cut shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Raymond James boosted their price objective on shares of CymaBay Therapeutics from $33.00 to $34.00 and gave the company a “strong-buy” rating in a research report on Wednesday, November 8th. William Blair reaffirmed an “outperform” rating on shares of CymaBay Therapeutics in a research report on Tuesday, November 14th. Finally, Piper Sandler lifted their price target on shares of CymaBay Therapeutics from $19.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.64.

Read Our Latest Stock Report on CymaBay Therapeutics

CymaBay Therapeutics Trading Down 1.0 %

Shares of NASDAQ CBAY opened at $24.00 on Tuesday. The company’s fifty day moving average is $22.88 and its 200-day moving average is $17.59. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of -26.09 and a beta of 0.28. CymaBay Therapeutics has a twelve month low of $7.26 and a twelve month high of $25.37. The company has a quick ratio of 22.76, a current ratio of 22.76 and a debt-to-equity ratio of 0.32.

Institutional Trading of CymaBay Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates lifted its stake in CymaBay Therapeutics by 26.3% in the 1st quarter. Raymond James & Associates now owns 97,604 shares of the biopharmaceutical company’s stock valued at $304,000 after purchasing an additional 20,337 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in CymaBay Therapeutics by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 276,766 shares of the biopharmaceutical company’s stock valued at $861,000 after purchasing an additional 21,961 shares during the last quarter. MetLife Investment Management LLC bought a new position in CymaBay Therapeutics in the 1st quarter valued at approximately $163,000. BlackRock Inc. lifted its stake in CymaBay Therapeutics by 2.7% in the 1st quarter. BlackRock Inc. now owns 5,466,209 shares of the biopharmaceutical company’s stock valued at $16,998,000 after purchasing an additional 142,081 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in CymaBay Therapeutics by 18.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 940,806 shares of the biopharmaceutical company’s stock valued at $2,926,000 after purchasing an additional 145,965 shares during the last quarter. Institutional investors own 95.03% of the company’s stock.

Insider Buying and Selling at CymaBay Therapeutics

In other CymaBay Therapeutics news, CEO Sujal Shah sold 64,865 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $20.00, for a total value of $1,297,300.00. Following the completion of the sale, the chief executive officer now owns 171,301 shares of the company’s stock, valued at approximately $3,426,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Charles Mcwherter sold 18,403 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $23.67, for a total transaction of $435,599.01. Following the completion of the sale, the insider now owns 15,000 shares of the company’s stock, valued at approximately $355,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sujal Shah sold 64,865 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $20.00, for a total transaction of $1,297,300.00. Following the sale, the chief executive officer now directly owns 171,301 shares of the company’s stock, valued at approximately $3,426,020. The disclosure for this sale can be found here. Insiders sold 164,439 shares of company stock valued at $3,470,441 in the last quarter. Company insiders own 7.00% of the company’s stock.

About CymaBay Therapeutics

(Get Free Report)

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 for the treatments of autoimmune liver disease, primary biliary cholangitis (PBC).

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

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