ProKidney, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Judah Frommer from Morgan Stanley maintained a Hold rating on the stock and has a $3.00 price target.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Judah Frommer’s rating is based on the recent topline results from ProKidney’s Phase 2 REGEN-007 study, which showed promising signs of kidney function stabilization in Group 1 patients after receiving two bilateral injections. The results indicated a significant reduction in the annual eGFR slope, suggesting potential efficacy of the treatment. However, the trial’s open-label design and the small number of patients meeting Phase 3 criteria complicate the interpretation of these results.
Additionally, while there were no new safety concerns, the absence of a control arm in the study limits the ability to draw definitive conclusions. ProKidney’s cash runway extending into mid-2027 and the anticipation of Phase 3 results in 3Q27 provide financial stability, yet the uncertainty surrounding the accelerated approval pathway for rilparencel adds a layer of risk. These factors collectively contribute to the Hold rating, as investors await more comprehensive data and regulatory updates.
Frommer covers the Healthcare sector, focusing on stocks such as Galapagos, Bicara Therapeutics Inc., and RegenXBio. According to TipRanks, Frommer has an average return of -6.0% and a 45.54% success rate on recommended stocks.