In a report released yesterday, Eliana Merle from Cantor Fitzgerald reiterated a Buy rating on CymaBay Therapeutics (CBAY), with a price target of $20. The company’s shares closed yesterday at $11.81.
“. We reiterate our Overweight rating and $20 price target. We have updated our model for 4Q earnings. Key timelines for both PBC and NASH remain on track. Focus of the earnings call was on upcoming Ph2b NASH data guided for 2Q19, which have the potential to be a major inflection point, and seladelpar’s development. We think management sounded upbeat about seladelpar’s ongoing program in NASH and the Ph3 PBC enrollment. Recent breakthrough designation for PBC we think is reflective of the strong value proposition from this asset and its potential best-in-class risk/benefit profile.”
According to TipRanks.com, Merle is a 1-star analyst with an average return of -5.5% and a 20.0% success rate. Merle covers the Healthcare sector, focusing on stocks such as Aerpio Pharmaceuticals Inc, AnaptysBio Inc, and Galapagos NV.
Currently, the analyst consensus on CymaBay Therapeutics is a Strong Buy with an average price target of $20.14, representing a 70.5% upside. In a report issued on February 22, Leerink Partners also initiated coverage with a Buy rating on the stock with a $22 price target.
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The company has a one-year high of $15.59 and a one-year low of $6.31. Currently, CymaBay Therapeutics has an average volume of 633.3K.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. Last month, Carl Goldfischer, a Director at CBAY sold 11,675 shares for a total of $105,309.
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CymaBay Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the research and development of biopharmaceutical products. Its products include MBX-8025 and Arhalofenate, MBX-8025 aims to treat lipid and liver diseases while Arhalofenate intends to reduce gout flares and serum uric acid.