In a report released today, Jason Zemansky from Bank of America Securities initiated coverage with a Buy rating on Reneo Pharmaceuticals (RPHM – Research Report) and a price target of $23.00. The company’s shares closed last Friday at $6.56.
Zemansky covers the Healthcare sector, focusing on stocks such as Esperion, Arcus Biosciences, and Allakos. According to TipRanks, Zemansky has an average return of 2.3% and a 58.82% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Reneo Pharmaceuticals with a $22.75 average price target.
See the top stocks recommended by analysts >>
The company has a one-year high of $11.30 and a one-year low of $1.79. Currently, Reneo Pharmaceuticals has an average volume of 154.8K.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is neutral on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Reneo Pharmaceuticals Inc is a clinical stage pharmaceutical company. It is focused on the development of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP). The company is developing REN001 to modulate genes critical to metabolism and generation of ATP, which is the primary source of energy for cellular processes.
Read More on RPHM:
- Reneo Pharmaceuticals to Participate in SVB Securities Therapeutics Forum
- Reneo Pharmaceuticals added to Russell 2000, Russell 3000 Indexes
- Reneo Pharmaceuticals Added to Russell 2000® and Russell 3000® Indices
- Reneo Pharmaceuticals Announces Presentation and Posters at Mitochondrial Medicine Symposium 2023
- Update — Reneo Pharmaceuticals to Participate at the Jefferies Healthcare Conference
