Oppenheimer Believes CymaBay Therapeutics (CBAY) Won’t Stop Here
Oppenheimer analyst Jay Olson assigned a Buy rating to CymaBay Therapeutics (CBAY) yesterday and set a price target of $14.00. The company’s shares closed last Thursday at $8.50, close to its 52-week high of $9.06.
According to TipRanks.com, Olson is a 2-star analyst with an average return of 0.6% and a 47.7% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Axovant Gene Therapies, and Frequency Therapeutics.
Currently, the analyst consensus on CymaBay Therapeutics is a Strong Buy with an average price target of $12.29, representing a 46.8% upside. In a report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $12.00 price target.
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Based on CymaBay Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $10.73 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.