Robert W. Baird analyst Brian Skorney maintained a Buy rating on Reneo Pharmaceuticals (RPHM – Research Report) yesterday and set a price target of $28.00. The company’s shares opened today at $6.41.
Skorney covers the Healthcare sector, focusing on stocks such as Biogen, Amgen, and Regeneron. According to TipRanks, Skorney has an average return of -2.0% and a 43.84% success rate on recommended stocks.
Currently, the analyst consensus on Reneo Pharmaceuticals is a Strong Buy with an average price target of $22.75.
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Based on Reneo Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $19.5 million. In comparison, last year the company had a GAAP net loss of $12.31 million
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RPHM in relation to earlier this year.
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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:
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