Raymond James Believes CymaBay Therapeutics (CBAY) Won’t Stop Here
In a report released yesterday, Steven Seedhouse from Raymond James initiated coverage with a Buy rating on CymaBay Therapeutics (CBAY) and a price target of $12.00. The company’s shares closed last Thursday at $8.50, close to its 52-week high of $9.06.
According to TipRanks.com, Seedhouse is a 4-star analyst with an average return of 13.6% and a 44.4% success rate. Seedhouse covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Apellis Pharmaceuticals, and Alexion Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for CymaBay Therapeutics with a $12.00 average price target, a 43.4% upside from current levels. 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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The company has a one-year high of $9.06 and a one-year low of $1.21. Currently, CymaBay Therapeutics has an average volume of 1.82M.
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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.