Cantor Fitzgerald analyst William Tanner reiterated a Buy rating on CymaBay Therapeutics (NASDAQ: CBAY) yesterday and set a price target of $16. The company’s shares closed yesterday at $11.64.
Tanner commented:
“: We reiterate the Overweight rating and 12-month PT of $16 for CBAY stock. We believe evidence provided thus far support the notion that seladelpar will become an important new agent for treating primary biliary cholangitis (PBC) by virtue of its potentially superior safety profile characterized by the lack of pruritus induction. Efficacy as a treatment for non-alcoholic steatohepatitis (NASH) would significantly increase the drug’s commercial potential and broaden interest in the company from other biopharma industry participants, in our view.”
According to TipRanks.com, Tanner is a 3-star analyst with an average return of 1.7% and a 42.2% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Intra-Cellular Therapies.
CymaBay Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $19.75.
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The company has a one-year high of $15.59 and a one-year low of $5.56. Currently, CymaBay Therapeutics has an average volume of 869.1K.
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.
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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.
