Evercore ISI Reaffirms Their Buy Rating on CymaBay Therapeutics (CBAY)

By Carrie Williams

Evercore ISI analyst Joshua Schimmer maintained a Buy rating on CymaBay Therapeutics (CBAYResearch Report) yesterday and set a price target of $15. The company’s shares closed last Monday at $5.95, close to its 52-week low of $4.82.

According to TipRanks.com, Schimmer is a 5-star analyst with an average return of 11.8% and a 50.8% success rate. Schimmer covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Ionis Pharmaceuticals Inc, and Mirum Pharmaceuticals 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, representing a 136.3% upside. 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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Based on CymaBay Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $24.04 million. In comparison, last year the company had a GAAP net loss of $17.53 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.