In a report released yesterday, Jay Olson from Oppenheimer assigned a Buy rating to CymaBay Therapeutics (CBAY), with a price target of $14.00. The company’s shares closed last Wednesday at $5.95.
According to TipRanks.com, Olson is ranked 0 out of 5 stars with an average return of -6.5% and a 38.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and ACADIA Pharmaceuticals.
Currently, the analyst consensus on CymaBay Therapeutics is a Strong Buy with an average price target of $13.43, implying a 135.2% upside from current levels. 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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