H.C. Wainwright analyst Ed Arce raised the firm’s price target on CymaBay to $28 from $24 and keeps a Buy rating on the shares after the company announced that it has submitted to the FDA an NDA of seladelpar for the treatment of primary biliary cholangitis, or PBC. If a Priority Review is granted, as the firm expects, this represents an accelerated regulatory time line and seladelpar’s potential U.S. approval could arrive about six months ahead of its previous expectations, the analyst tells investors.
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Read More on CBAY:
- CymaBay Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
- Cantor Fitzgerald biotech analysts hold an analyst/industry conference call
- CymaBay announces results from RESPONSE Phase 3 study of seladelpar
- CymaBay price target raised to $24 from $21 at H.C. Wainwright
- CymaBay reports Q3 EPS (32c), consensus (30c)