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SVB Securities Reaffirms Their Buy Rating on CymaBay Therapeutics (CBAY)

SVB Securities analyst Thomas Smith maintained a Buy rating on CymaBay Therapeutics (CBAYResearch Report) on August 1. The company’s shares closed last Tuesday at $3.48.

According to TipRanks.com, Smith has 0 stars on 0-5 stars ranking scale with an average return of -25.1% and a 22.9% success rate. Smith covers the Healthcare sector, focusing on stocks such as Connect Biopharma Holdings, Madrigal Pharmaceuticals, and Eledon Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for CymaBay Therapeutics with a $9.67 average price target, which is a 202.2% upside from current levels. In a report issued on August 1, H.C. Wainwright also maintained a Buy rating on the stock with a $10.00 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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