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Tuesday, November 24, 2020

CymaBay Therapeutics Inc. (NASDAQ:CBAY) Finding Zero Support

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CymaBay Therapeutics Inc. (CBAY) shares are trading at lower $6.46 and the avg recommendation for the stock is Strong Buy.

To add more color to this target, the company’s high over the last year is $7.09 and the low is $1.21. Over the last 52 weeks, CBAY is down -8.89% while the S&P 500 is down -0.42%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CBAY reported a profit of $0.43 million. CymaBay Therapeutics Inc. also saw revenues increase to $11.15 million. In addition, CBAY has free cash flow of -$22.46 million as of 06-2020. The company’s EBITDA came in at -$11.1 million which compares well with its peers.

CBAY Return on Equity (ROE) is -43.00%, and its Return on Assets is -39.60%. All told, it is clear that, CBAY needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CBAY has a short ratio of 2.66 and outstanding shares of 68.89M.

Company Outlook

CBAY has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -1.16. CymaBay Therapeutics Inc. CBAY also noted assets of $176.6 million at the end of the last quarter. Investors should also keep an eye on sector updates as CBAY has historically followed its peers on positive news.

All told, CymaBay Therapeutics Inc. CBAY has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CBAY represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

CymaBay Therapeutics Inc. CBAY is now commanding a market cap of 437.02M and a float of 68.61M. CBAY is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CBAY stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CBAY, either long or short, and we have not been compensated for this article.

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