Analyst Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Unicycive Therapeutics (UNCY – Research Report) and decreased the price target to $9.00 from $90.00.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors surrounding Unicycive Therapeutics. The company recently received a complete response letter (CRL) from the FDA concerning a compliance issue with a third-party manufacturing vendor, not related to the drug’s safety or efficacy. Unicycive has already identified a new vendor to address this issue and plans to meet with the FDA soon, which could clarify the regulatory path forward.
Furthermore, Unicycive has sufficient funding to continue operations into the second half of 2026, and there is an agreement for additional funding contingent upon the drug’s approval. The valuation of Unicycive’s shares is based on a risk-adjusted net present value analysis, projecting revenues through 2031. Despite potential risks such as commercial and clinical challenges, the financial outlook and strategic steps taken by the company support a Buy rating with a price target of $9.00.