H.C. Wainwright analyst Ed Arce downgraded CymaBay Therapeutics (CBAY) to Neutral from Buy with a price target of $32.50, up from $28, citing the pending takeover by Gilead (GILD). The takeout consideration “is more than adequate, if not generous, in our view, and likely reflects to some degree the operational and commercial synergies that perhaps only Gilead could bring to bear,” the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CBAY:
- M & A News: Gilead (NASDAQ:GILD) to Acquire CymaBay
- CymaBay Therapeutics’ Strategic Merger with Gilead Sciences
- CymaBay Therapeutics to Participate in Upcoming Investment Conferences
- CymaBay price target raised to $26 from $22 at Oppenheimer
- CymaBay Therapeutics Boosts Director Equity, Announces Officer Changes
