As previously reported, Guggenheim initiated coverage of CymaBay with a Buy rating and $20 price target. CymaBay has generated a comprehensive dataset for lead asset seladelpar in primary biliary cholangitis, or PBC, that support a strong clinical profile and give it the “potential for PBC market leadership,” the analyst tells investors. Should Phase 3 results show a pruritus benefit, the firm expects seladelpar to “achieve market dominance of 80-85% share in our bull case,” the analyst added.
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