In a report released today, Jay Olson from Oppenheimer reiterated a Buy rating on CymaBay Therapeutics (NASDAQ: CBAY), with a price target of $20. The company’s shares closed yesterday at $12.30.
Olson noted:
“CBAY announced 1Q18 OPEX of $12.85M (vs. our $10.1M estimate), and GAAP EPS of -$0.32 vs. our -$0.18 estimate and -$0.15 consensus. CBAY has delivered rapid progress in PBC and entered the NASH arena with the initiation of a Ph2b trial with multiple doses and MRI-PDFF data at weeks 12, 26 and 52 and secondary evaluation of improvement in NASH or fibrosis (histology) at 52 weeks. CBAY also presented continuing positive 12-32 week PBC data at EASL. CBAY is sufficiently funded ($230M cash at 1Q post the recent raise) into 2021. We see seladelpar as a well-differentiated asset and are looking forward to the 2H18 initiation of a pivotal Ph3 PBC trial. We reiterate our Outperform rating and $20 PT.”
According to TipRanks.com, Olson is ranked 0 out of 5 stars with an average return of -6.4% and a 38.6% 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 $19.86.
See today’s analyst top recommended stocks >>
The company has a one-year high of $15.59 and a one-year low of $3.37. Currently, CymaBay Therapeutics has an average volume of 1.15M.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2018, Carl Goldfischer, a Director at CBAY sold 15,000 shares for a total of $195,300.
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 company, which engages in the research and development of biopharmaceutical products. Its candidates 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.
Read More on CBAY:
