CymaBay Therapeutics (CBAY) Receives a Buy from Oppenheimer
In a report released today, Jay Olson from Oppenheimer maintained a Buy rating on CymaBay Therapeutics (CBAY). The company’s shares closed last Monday at $1.24, close to its 52-week low of $1.21.
According to TipRanks.com, Olson is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -15.6% and a 27.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, ACADIA Pharmaceuticals, and Enanta Pharmaceuticals.
Currently, the analyst consensus on CymaBay Therapeutics is a Moderate Buy with an average price target of $2.75, implying an 111.5% upside from current levels. In a report issued on March 13, Cantor Fitzgerald also upgraded the stock to Buy.
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Based on CymaBay Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $29.41 million. In comparison, last year the company had a GAAP net loss of $19.45 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.