“Two late-breaking presentations on CBAY’s seladelpar for primary biliary cholangitis (PBC) will be featured on Nov. 12 at Francisco, CA. We believe these presentations contain important data that should differentiate seladelpar from existing therapies by potentially demonstrating: 1) improved efficacy, and 2) superior safety and tolerability. Seladelpar efficacy of ~60-70% compares favorably to ~50% based on 52-week responder rates (albeit from different trials which may not be comparable). Seladelpar decreases pruritus (itching) by 50-55% at 26 weeks from baseline compared to Ocaliva which does not decrease pruritus. We expect seladelpar to launch in late 2021 with a competitive label and forecast ~$400M peak risk-adjusted PBC revenues in 2026. Please see details and exhibits below.”
According to TipRanks.com, Olson is a 1-star analyst with an average return of -2.0% and a 43.5% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
CymaBay Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $22.25, implying a 107.0% upside from current levels. In a report issued on October 2, SunTrust Robinson also maintained a Buy rating on the stock.
The company has a one-year high of $15.59 and a one-year low of $7.63. Currently, CymaBay Therapeutics has an average volume of 549.5K.
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.