In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on ProKidney, with a price target of $12.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors tied to the progress and design of the PROACT 1 trial for rilparencel in diabetic chronic kidney disease. He emphasizes that the registrational study is advancing on schedule toward a key interim readout in the second quarter of 2027, which is expected to support an accelerated approval filing later that year based on improvements in eGFR slope as a surrogate marker. Current enrollment and follow-up already provide roughly 80% statistical power to detect the FDA-recommended treatment effect, with the potential to reach about 90% power as additional patients are recruited through mid-2026. Management’s guidance that over 70% of the population needed for the accelerated approval efficacy analysis is already enrolled further underpins confidence in trial execution and timelines.
In Pantginis’s view, the risk-reward profile is strengthened by prior Phase 2 data and a pivotal trial design that closely tracks the earlier study, thereby reducing execution and translational risk. He also points to the unusually strong engagement for a cell therapy trial, with an expected total of approximately 685 participants in the full confirmatory dataset, suggesting robust clinical validation potential. Taken together—favorable early clinical signals, a well-powered and well-enrolled registrational program, and clear regulatory path via a surrogate endpoint—these elements support his positive stance on rilparencel’s prospects and underpin his Buy recommendation on ProKidney shares.
Based on the recent corporate insider activity of 12 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 PROK in relation to earlier this year.