After Oppenheimer and H.C. Wainwright gave CymaBay Therapeutics (NASDAQ: CBAY) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Mayank Mamtani reiterated a Buy rating on CymaBay Therapeutics today and set a price target of $13.00. The company’s shares closed last Wednesday at $5.98.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 12.6% and a 41.9% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Spectrum Pharmaceuticals, and Madrigal Pharmaceuticals.
Currently, the analyst consensus on CymaBay Therapeutics is a Strong Buy with an average price target of $13.43, representing a 135.2% upside. In a report issued on August 25, Citigroup also maintained 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 $24.04 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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