CymaBay Therapeutics (CBAY) Received its Third Buy in a Row

After Piper Sandler and Oppenheimer gave CymaBay Therapeutics (NASDAQ: CBAY) a Buy rating last month, the company received another Buy, this time from Stifel Nicolaus. Analyst Derek Archila initiated coverage with a Buy rating on CymaBay Therapeutics today and set a price target of $12.00. The company’s shares closed last Thursday at $4.59.

According to TipRanks.com, Archila is a 4-star analyst with an average return of 8.3% and a 45.6% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Phasebio Pharmaceuticals, and Madrigal Pharmaceuticals.

CymaBay Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $12.57, implying a 173.9% upside from current levels. In a report issued on March 15, Piper Sandler also maintained a Buy rating on the stock with a $12.00 price target.

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Based on CymaBay Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $11.42 million. In comparison, last year the company had a GAAP net loss of $26.28 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.