BTIG initiated coverage of CymaBay Therapeutics with a Buy rating and $15 price target. The analyst says seladelpar is well positioned to emerge as the preferred PPAR agonist in primary biliary cholangitis. Seladelpar’s superior efficacy and adverse event profile could allow the drug to achieve over three-times Ocaliva’s current sales, the analyst tells investors in a research note. The firm thinks CymaBay continues to trade at a "compelling discount to this blockbuster market opportunity."
Published first on TheFly
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- CymaBay Therapeutics to Report Fourth Quarter and Full Year 2022 Financial Results on Thursday, March 16, 2023
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- CymaBay price target raised to $13 from $10 at Cantor Fitzgerald
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- CymaBay price target raised to $19 from $12 at Piper Sandler