CymaBay Therapeutics Inc(NASDAQ:CBAY) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Mar 23, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Earnings per share were $-0.3.
In a different note, On Jan 30, 2017, H.C. Wainwright said it Upgrades its rating on CymaBay Therapeutics Inc. According to the research note, H.C. Wainwright Raises the price target to $6 per share from a prior target of $2.5. The shares have been rated ‘Buy’ by the firm.
CymaBay Therapeutics Inc (CBAY) made into the market gainers list on Fridays trading session with the shares advancing 9.97% or 0.38 points. Due to strong positive momentum, the stock ended at $4.19, which is also near the day’s high of $4.3287. The stock began the session at $3.8 and the volume stood at 7,18,908 shares. The 52-week high of the shares is $4.4399 and the 52 week low is $1.15. The company has a current market capitalization of $120 M and it has 2,87,52,451 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Sep 9, 2016, Robert James Wills (director) purchased 25,000 shares at $2.43 per share price.Also, On Apr 19, 2016, Patrick J. Omara (VP, Business Development) purchased 5,000 shares at $1.64 per share price.On Apr 19, 2016, Charles Mcwherter (Sr. Vice President) purchased 3,000 shares at $1.68 per share price, according to the Form-4 filing with the securities and exchange commission.
CymaBay Therapeutics Inc. is a biopharmaceutical company. The Company is focused on developing therapies to treat metabolic diseases including serious rare and orphan disorders. Arhalofenate the Company’s lead product candidate is used to treat gout. The Company has completed five Phase II clinical trials of Arhalofenate in patients with gout. The Company’s second product candidate MBX-8025 is used to treat disorder linked to deficits in lipid storage handling and utilization many of which result in metabolic disorders. The Company has completed five Phase I and one Phase II clinical trials of MBX-8025. The Company’s MBX-2982 is a treatment for type 2 diabetes that targets G protein-coupled receptor 119 (GPR119) a receptor that interacts with bioactive lipids known to stimulate glucose-dependent insulin secretion. MBX-2982 has completed four Phase I studies and one Phase II study.