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H.C. Wainwright Remains a Buy on CymaBay Therapeutics (CBAY)

In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on CymaBay Therapeutics (CBAYResearch Report), with a price target of $10.00. The company’s shares closed last Monday at $3.28.

According to TipRanks.com, Arce is a 4-star analyst with an average return of 7.0% and a 37.9% success rate. Arce covers the Healthcare sector, focusing on stocks such as Aurinia Pharmaceuticals, Paratek Pharmaceuticals, and Galmed Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for CymaBay Therapeutics with a $8.75 average price target.

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Based on CymaBay Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $27.77 million. In comparison, last year the company had a GAAP net loss of $17.55 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.

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