Analyst Judah Frommer of Morgan Stanley maintained a Hold rating on ProKidney, retaining the price target of $3.00.
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Judah Frommer’s rating is based on the recent developments surrounding ProKidney’s clinical trials and regulatory interactions. The FDA’s confirmation that the eGFR slope can be used as a surrogate endpoint for accelerated approval is a positive step, but the timeline for the confirmatory readout remains uncertain. This uncertainty, coupled with the disruption caused by the previous pause in the registrational program, has likely contributed to the Hold rating.
Despite these challenges, ProKidney’s management has taken steps to improve recruitment and expects a more reliable timeline for the next Phase 3 catalyst by 2Q27. Additionally, the company’s current cash position is expected to support operations into mid-2027, which alleviates some investor concerns. However, the overall uncertainty in the timing of key milestones and the reliance on future data readouts likely influenced the decision to maintain a Hold rating.
According to TipRanks, Frommer is an analyst with an average return of -5.8% and a 46.53% success rate. Frommer covers the Healthcare sector, focusing on stocks such as Galapagos, RegenXBio, and Bicara Therapeutics Inc..