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CymaBay downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler analyst Yasmeen Rahimi downgraded CymaBay (CBAY) to Neutral from Overweight with a price target of $32.50, down from $33, following the company’s announcement of its proposed acquisition by Gilead (GILD) for $32.50 per share.

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