H.C. Wainwright raised the firm’s price target on CymaBay to $19 from $12 and keeps a Buy rating on the shares. The topline results of the Phase 3 pivotal RESPONSE trial of seladelpar 10mg in primary biliary cholangitis are expected this quarter and the analyst continues to view the readout as “highly de-risked.” The firm expects seladelpar to be the leading second-line treatment for primary biliary cholangitis.
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