CymaBay Therapeutics (CBAY) Gets a Hold Rating from B.Riley FBR

By Ryan Adsit

In a report released today, Mayank Mamtani from B.Riley FBR maintained a Hold rating on CymaBay Therapeutics (CBAYResearch Report), with a price target of $11. The company’s shares opened today at $12.60.

Mamtani wrote:

“Therapeutics, Inc. (CBAY-Neutral, $11 PT) reported 4Q18 financial results, alongside an investor call. 4QEPS of (0.32) came ahead of our/consensus estimate of (0.36). Two recent positive developments relating to seladelpar, in the form of (1) receipt of breakthrough therapy designation (BTD) from FDA for Primary Billiary Cholangitis (PBC) indication, and (2) expedited patient recruitment in ongoing Ph.IIb NASH study, ahead by one quarter, sets the stage for an eventful 2019 with continued Ph. III ENHANCE trial execution in PBC and liver fat reduction readouts from the Ph. IIb NASH trial beginning with 12-week treatment data in 2Q19. We remain Neutral, but are increasing our PT from $9 to $11 with key model updates relating to more disciplined near-term spend and pushing up of timeline for NASH market entry.”

According to, Mamtani is a 3-star analyst with an average return of 7.4% and a 64.7% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.

Currently, the analyst consensus on CymaBay Therapeutics is a Strong Buy with an average price target of $20.43.

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Based on CymaBay Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $18.56 million. In comparison, last year the company had a GAAP net loss of $5.04 million.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. Last month, Carl Goldfischer, a Director at CBAY sold 11,675 shares for a total of $105,309.

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CymaBay Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the research and development of biopharmaceutical products. 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.