After Cantor Fitzgerald and Oppenheimer gave CymaBay Therapeutics (NASDAQ: CBAY) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ed Arce maintained a Buy rating on CymaBay Therapeutics today and set a price target of $23. The company’s shares closed yesterday at $11.64.
According to TipRanks.com, Arce is a 5-star analyst with an average return of 20.9% and a 42.5% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Paratek Pharmaceuticals.
CymaBay Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $19.75, a 69.7% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $16 price target.
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Based on CymaBay Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $17.01 million. In comparison, last year the company had a GAAP net loss of $8.93 million.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CBAY in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
