UBS analyst Eliana Merle downgraded CymaBay Therapeutics (CBAY) to Neutral from Buy with a price target of $32.50, up from $25, after Gilead Sciences (GILD) announced an agreement to acquire Cymabay for $32.50 per share in cash. The firm’s base case is that the deal closes.
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Read More on CBAY:
- CymaBay downgraded to Market Perform from Strong Buy at Raymond James
- CymaBay downgraded to Neutral from Buy at B. Riley
- CymaBay downgraded to Neutral from Overweight at Cantor Fitzgerald
- CymaBay downgraded to Hold from Buy at JonesResearch
- Gilead acquisition of CymaBay makes sense, says Wells Fargo
