Cantor Fitzgerald Starts Coverage on CymaBay Therapeutics Inc. (CBAY) Setting A Rating Of “Overweight”


CymaBay Therapeutics Inc. (NASDAQ:CBAY).

Leerink Swann started covering the stock with an initial rating of “Outperform”. Equity analyst Oppenheimer began coverage giving it an initial rating of “Outperform”.

The company is trading up by 4.72%% since yesterday’s close of 6.99. Shares of the company are trading at $7.32 a great deal higher than $6.59, the 50 day moving average and which is significantly higher than the 200 day moving average of $5.15. The 50 day moving average went up $0.73 or +11.10% and the 200 day average went up $2.17 or +42.09%.

CymaBay Therapeutics, Inc., launched on October 5, 1988, is a clinical-stage biopharmaceutical company. The Company is focused on developing therapies to treat metabolic diseases, including serious rare and orphan diseases. Its pipeline includes three unpartnered clinical stage product candidates and a number of preclinical programs. Its product candidates include Arhalofenate, MBX-8025 and MBX-2982. Arhalofenate is used to treat gout. MBX-8025 is a selective agonist for the peroxisome proliferator-activated receptor delta (PPARd). MBX-2982 is an oral, G-protein coupled receptor (GPR119) agonist being evaluated as a therapeutic agent for patients with Type 2 diabetes (T2DM), with a dual mechanism, including direct effects and indirect effects mediated by gastrointestinal hormones known as incretins on glucose-dependent insulin secretion, as well as potentially beneficial effects on islet health..

In the last earnings report the EPS was $-1.07 and is projected to be $-0.81 for the current year with 43,756,000 shares now outstanding. Analysts expect next quarter’s EPS to be $-0.15 and the next full year EPS is anticipated to be $-0.69.

Investors are a little more bearish on shares of the company recently if you consider the increase in short interest. The firm realized a rise in short interest between August 15, 2017 and August 31, 2017 of 14.37%. Short shares grew 164,422 over that timeframe. Days to cover decreased from 2.0 to 2.0 and the percentage of shorted shares was 0.05% on August 31.