CymaBay Therapeutics (CBAY) Received its Third Buy in a Row


After Raymond James and Cantor Fitzgerald gave CymaBay Therapeutics (NASDAQ: CBAY) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jay Olson maintained a Buy rating on CymaBay Therapeutics today and set a price target of $14.00. The company’s shares closed last Monday at $6.90.

According to TipRanks.com, Olson ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -5.4% and a 41.3% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and ACADIA Pharmaceuticals.

CymaBay Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $12.25, which is an 86.6% upside from current levels. In a report issued on August 4, B.Riley FBR also reiterated a Buy rating on the stock with a $9.00 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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