CBAY — Over 300% upside for this stock?

One analyst gave CBAY over 300% upside by next year (See here: https://finance.yahoo.com/news/2-strong-buy-penny-stocks-151746594.html)

Here are the main points behind his bullish thesis:

• CymaBay completed enrollment of Phase 3 study (RESPONSE) evaluating its lead drug candidate seladelpar in primary biliary cholangitis (PBC)
• Analysis of a prior Phase 3 showed stat sig improvement in the primary composite endpoint, which de-risk the success of the current trial.
• Based on a proven end market that should be broadly attractive, the analyst expects CBAY to be totally re-priced in the coming year or much sooner.
• He gives CBAY a Strong Buy rating and $14 price target.

What do you think?