What Made B.Riley FBR Upgrade CymaBay Therapeutics’ Stock?

By Jason Carr

B.Riley FBR analyst Mayank Mamtani upgraded CymaBay Therapeutics (CBAYResearch Report) to Buy today and set a price target of $6.00. The company’s shares closed last Tuesday at $4.45.

According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 17.1% and a 51.1% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals, Arrowhead Pharmaceuticals, and Spectrum Pharmaceuticals.

CymaBay Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $5.15, representing a 12.2% upside. In a report released yesterday, Raymond James also upgraded the stock to Buy with a $7.00 price target.

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The company has a one-year high of $13.32 and a one-year low of $1.22. Currently, CymaBay Therapeutics has an average volume of 1.64M.

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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.