Piper Jaffray loves the setup for CymaBay shares into NASH data

CymaBay’s Seladelpar has made “tremendous progress” in primary biliary cholangitis over the past year its competitive positioning continues to improve, Piper Jaffray analyst Tyler Van Buren tells investors in a research note. Further, the analyst believes the drug’s nonalcoholic steatohepatitis opportunity is not currently being factored into the existing valuation. The analyst expects to receive topline data from the ongoing Phase IIb trial of seladelpar in NASH next quarter. If successful, it could “multiply” the $750M PBC opportunity in his model, Van Buren says in a research note titled “We Love The Setup Of CBAY Here; Reiterate The Overweight.” He keeps a $30 price target on CymaBay shares.
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