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CBAY

CymaBay

$6.05

-5.035 (-45.44%)

07:27
06/12/19
06/12
07:27
06/12/19
07:27

CymaBay selloff yesterday brings buying opportunity, says Cantor Fitzgerald

Cantor Fitzgerald analyst Eliana Merle says the selloff yesterday in shares of CymaBay Therapeutics strengthens her conviction and presents a buying opportunity. The 52-week biopsy data in early 2020 "remain very much in play from a scientific perspective, but now with much greater upside potential from a stock perspective," Merle tells investors in a research note. While the analyst found the lack of fat benefit at week 12 surprising, she says her thesis on seladelpar in nonalcoholic steatohepatitis is that there are many biological reasons why the drug could show "strong" 52-biopsy data independent of fat changes. There is undue investor focus on MRI-PDFF, making NASH a "very large piece of optionality early next year," says the analyst. Merle reiterates an Overweight rating on CymaBay with a $20 price target. The stock closed yesterday down 45%, or $5.04, to $6.05.

  • 12

    Jun

CBAY CymaBay
$6.05

-5.035 (-45.44%)

05/14/19
SBSH
05/14/19
INITIATION
Target $21
SBSH
Buy
CymaBay initiated with a Buy at Citi
Citi analyst Joel Beatty started CymaBay Therapeutics (CBAY) with a Buy rating and $21 price target. The analyst believes the company's seladelpar will "likely dethrone" Intercept Pharmaceuticals' (ICPT) Ocaliva as the top-selling branded primary biliary cholangitis drug. Topline results for seladelpar in PBC are anticipated in 2021 and the analyst sees a 75% probability of approval.
06/07/19
LEER
06/07/19
NO CHANGE
Target $22
LEER
Outperform
FDA news has 'nothing to do' with CymaBay's programs, says SVB Leerink
SVB Leerink analyst Pasha Sarraf says that CymaBay Therapeutics is down on an "overreaction" to the FDA's recommendation regarding endpoint for compensated cirrhosis. In a research note to investors , Sarraf says he recommends purchasing at these levels, saying he continues to believe the the stock is likely to pop on the interim results from the MRI-PDFF results, which have not yet been announced and feels the FDA's announcement regarding compensated cirrhosis has "absolutely nothing to do" with CymaBay's programs. Sarraf has an Outperform rating and $22 price target on CymaBay shares.
06/11/19
PIPR
06/11/19
NO CHANGE
Target $8
PIPR
Overweight
Piper cuts CymaBay price target to $8 on 'worst case' results for NASH trial
Piper Jaffray analyst Tyler Van Buren said he did not anticipate that placebo would perform better than seladelpar in CymaBay Therapeutics' (CBAY) Phase 2b study of the drug for the treatment of nonalcoholic steatohepatitis. Calling the NASH trial results a "worst case scenario," Van Buren sees significant risk to the final 52-week data read-out and removed all expectations in NASH from his model. He said the data make seladelpar seem similar to Genfit's (GNFT) elafibranor, though seladelpar has not yet shown improvements in good cholesterol, glucose homeostatis, or insulin resistance. While Van Buren cut his price target on CymaBay shares to $8 from $30 based on the trial results, he keeps an Overweight rating on the shares given the sharp pullback this morning and the support he sees from the company's remaining cash and residual opportunity.
06/11/19
RAJA
06/11/19
UPGRADE
Target $19
RAJA
Strong Buy
CymaBay upgraded to Strong Buy from Outperform at Raymond James
Raymond James analyst Steven Seedhouse upgraded CymaBay to Strong Buy from Outperform citing the upside potential he sees following today's pullback in the stock. He keeps a $19 price target on the shares, calling today's reaction to the surrogate endpoint data "overblown."

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