CymaBay Therapeutics Inc. (NASDAQ:CBAY) raised to Buy from Neutral with a 10 price target on the confirmed breakout on 14 May, now the technical outlook is Bullish to Very Bullish across the board as the majority of our Key indicators are Very Bullish in here
Tuesday, the stock finished at 3.96, +0.10 share on lite volume. Support is Strong at 1.89 and Resistance is Nil. My target price is 12.54.
CymaBay Therapeutics, Inc., (NASDAQ:CBAY) a clinical-stage biopharmaceutical company, focuses on developing and providing therapies to treat liver and other chronic diseases.
Its lead product candidate is seladelpar (MBX-8025), a selective agonist of peroxisome proliferator activated receptor delta, which has completed Phase II clinical study for the treatments of primary biliary cholangitis and sclerosing cholangitis, as well as patients with nonalcoholic steatohepatitis. The company also develops MBX-2982, a selective orally-active G protein-coupled receptor agonist that interacts with bioactive lipids known to stimulate glucose-dependent insulin secretion for the treatment of gut/liver disease.
Its preclinical stage product candidate is CB-001, a G protein-coupled receptor for omega-3 fatty acids, such as docosahexaenoic acid for the treatment of gut/liver disease.
It has development and licensing agreement with Janssen Pharmaceuticals, Inc. , a Private company, to develop and discover undisclosed metabolic disease target agonists for the treatment of type 2 diabetes and other disorders; and a license agreement with DiaTex, Inc., a Private company, to develop and commercialize therapeutic products comprising halofenate and its enantiomers, derivatives, and analogs for the treatment of diseases.
The company was formerly known as Metabolex, Inc. CymaBay Therapeutics, Inc. was incorporated in Y 1988 and is HQ’d in Newark, California.
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