Unicycive Therapeutics (NASDAQ:UNCY – Get Free Report) had its price target lowered by investment analysts at Noble Financial from $60.00 to $50.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock.
Several other analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Benchmark reaffirmed a “speculative buy” rating and issued a $18.00 target price (up from $15.00) on shares of Unicycive Therapeutics in a research report on Tuesday, June 2nd. Weiss Ratings upgraded Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 9th. B. Riley Financial reissued a “buy” rating and set a $22.00 price target on shares of Unicycive Therapeutics in a research report on Tuesday. Finally, HC Wainwright decreased their price objective on Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Unicycive Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $28.40.
View Our Latest Research Report on UNCY
Unicycive Therapeutics Stock Down 0.1%
Unicycive Therapeutics (NASDAQ:UNCY – Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.08). As a group, equities analysts expect that Unicycive Therapeutics will post -0.32 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Unicycive Therapeutics
Several large investors have recently made changes to their positions in UNCY. Millennium Management LLC acquired a new position in Unicycive Therapeutics in the fourth quarter worth approximately $5,856,000. Vivo Capital LLC lifted its stake in Unicycive Therapeutics by 57.4% in the third quarter. Vivo Capital LLC now owns 1,789,916 shares of the company’s stock valued at $7,804,000 after acquiring an additional 652,901 shares during the last quarter. Cantor Fitzgerald L. P. bought a new stake in Unicycive Therapeutics in the fourth quarter worth approximately $1,154,000. Dimensional Fund Advisors LP acquired a new position in shares of Unicycive Therapeutics during the 1st quarter worth $940,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Unicycive Therapeutics during the 3rd quarter worth $512,000. Institutional investors own 40.42% of the company’s stock.
Key Headlines Impacting Unicycive Therapeutics
Here are the key news stories impacting Unicycive Therapeutics this week:
- Negative Sentiment: The FDA did not approve OLC and said the application still has unresolved third-party manufacturing deficiencies, delaying a potential launch and pressuring the stock. Article Title
- Negative Sentiment: This is especially disappointing because it appears to be a repeat regulatory issue: the FDA cited the same manufacturing problems in a prior CRL, and the agency still has not inspected the vendor’s facility. Article Title
- Neutral Sentiment: Management said the FDA did not raise new concerns about OLC’s clinical safety or efficacy, and no additional clinical data was requested, which may help limit long-term damage if the manufacturing issues are fixed. Article Title
- Neutral Sentiment: Analysts mostly kept bullish ratings despite the setback, but some cut price targets and warned the approval timeline could be delayed by several months. Article Title
Unicycive Therapeutics Company Profile
Unicycive Therapeutics, Inc, a biotechnology company, engages in developing novel therapies for kidney diseases in the United States. It is developing Renazorb for treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis; and UNI 494, which is in Phase 1 clinical trials for treatment of acute kidney injury. The company was incorporated in 2016 and is based in Los Altos, California.
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