CymaBay Therapeutics (CBAY) Gets a Buy Rating from H.C. Wainwright

By Ryan Adsit

H.C. Wainwright analyst Ed Arce maintained a Buy rating on CymaBay Therapeutics (CBAYResearch Report) today and set a price target of $12. The company’s shares opened today at $6.52.

Arce noted:

“916-3963, Rating POS Risk-adj value Full value Shares outstanding 68,696 S/O as of April 30, 2019. Current share price $6.05 Discount rate 20.0% Seladelpar (PBC) – U.S.”

According to TipRanks.com, Arce is a 4-star analyst with an average return of 5.1% and a 34.2% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Arcturus Therapeutics Ltd, and Melinta Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for CymaBay Therapeutics with a $16.56 average price target, which is a 154.0% upside from current levels. In a report released yesterday, Oppenheimer 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 $15 and a one-year low of $4.82. Currently, CymaBay Therapeutics has an average volume of 1.06M.

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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.