In a report released today, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on CymaBay Therapeutics (CBAY), with a price target of $9.00. The company’s shares closed last Wednesday at $5.95.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 14.9% and a 49.3% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Spectrum Pharmaceuticals, and Madrigal Pharmaceuticals.
CymaBay Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $12.38, implying a 79.4% upside from current levels. In a report issued on August 3, Oppenheimer also assigned a Buy rating to the stock with a $12.00 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 $13.09 million. In comparison, last year the company had a GAAP net loss of $23.08 million.
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CymaBay Therapeutics, Inc. is a clinical stage biopharmaceutical company, focused on developing and providing access to therapies for patients with liver and other chronic diseases with high unmet medical need. 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. The company was founded on October 5, 1988 and is headquartered in Newark, CA.
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