CymaBay Therapeutics (CBAY) Gets a Buy Rating from B.Riley FBR


In a report released today, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on CymaBay Therapeutics (CBAY), with a price target of $6.00. The company’s shares closed last Friday at $3.94.

According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 20.1% and a 53.2% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals, Arrowhead Pharmaceuticals, and Spectrum Pharmaceuticals.

Currently, the analyst consensus on CymaBay Therapeutics is a Strong Buy with an average price target of $7.00.

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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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