JonesTrading Keeps a Buy Rating on CymaBay Therapeutics (CBAY)

In a report released today, Prakhar Agrawal from JonesTrading maintained a Buy rating on CymaBay Therapeutics (CBAY – Research Report), with a price target of $8.00. The company’s shares closed last Monday at $4.70.

According to TipRanks.com, Agrawal is a 1-star analyst with an average return of -5.3% and a 32.0% success rate. Agrawal covers the Healthcare sector, focusing on stocks such as Phathom Pharmaceuticals, Arcutis Biotherapeutics, and Aldeyra Therapeutics.

Currently, the analyst consensus on CymaBay Therapeutics is a Strong Buy with an average price target of $11.22, a 141.8% upside from current levels. In a report issued on June 9, Piper Sandler also maintained a Buy rating on the stock with a $12.00 price target.

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CymaBay Therapeutics’ market cap is currently $319.5M and has a P/E ratio of -5.70. The company has a Price to Book ratio of 2.50.

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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.