Stifel Nicolaus Reiterates Their Buy Rating on CymaBay Therapeutics (CBAY)


Stifel Nicolaus analyst Derek Archila reiterated a Buy rating on CymaBay Therapeutics (CBAY) on August 8 and set a price target of $14. The company’s shares closed on Friday at $5.83, close to its 52-week low of $4.82.

Archila observed:

“We are reiterating our Buy rating on CBAY shares after the company reported its 2Q19 financial and business update. With the company trading at distressed levels (enterprise value of ~$140 million) and an only modest value being assigned to its pipeline (PBC or NASH), we continue to see a favorable/risk reward for shares ahead of its 2Q20 Phase 2b readout in liver biopsy confirmed NASH but recognize shares may be relatively range bound ahead of this catalyst. We believe management continues to execute and remains on its clinical studies and is well capitalized to reach its key milestones. Key Points Although seladelpar missed on reduction in liver fat content as measured by MRI-PDFF in the top line 12-week Phase 2 NASH study, management reiterated its confidence on its potential efficacy on 52-week histological endpoints.”

According to TipRanks.com, Archila ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -11.0% and a 26.8% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Madrigal Pharmaceuticals Inc, and NGM Biopharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for CymaBay Therapeutics with a $13.80 average price target, implying a 136.7% upside from current levels. In a report issued on August 8, H.C. Wainwright also maintained a Buy rating on the stock with a $12 price target.

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The company has a one-year high of $14 and a one-year low of $4.82. Currently, CymaBay Therapeutics has an average volume of 1.36M.

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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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