We consider the general Landau-Lifshitz-Gilbert theory underlying the magnetization dynamics of a macrospin magnet subject to spin-torque effects and thermal fluctuations. Thermally activated dynamical properties are analyzed by averaging the full magnetization equations over constant- energy orbits. After averaging, all the relevant dynamical scenarios are a function of the ratio between hard and easy axis anisotropies. We derive analytically the range of currents for which limit cycles exist and discuss the regimes in which the constant energy orbit averaging technique is applicable.