J.P. Morgan analyst Anupam Rama has maintained their neutral stance on PROK stock, giving a Hold rating yesterday.
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Anupam Rama has given his Hold rating due to a combination of factors surrounding ProKidney’s current situation. The recent alignment with the FDA on an accelerated approval pathway for rilparencel is a positive development, indicating progress in the company’s pivotal PROACT 1 study. However, the timeline for obtaining the necessary data for accelerated approval is longer than initially expected, with key data anticipated in the second quarter of 2027.
While there have been several positive updates, including promising phase 2 data, the extended timeline could weigh on investor sentiment. Additionally, the valuation of ProKidney shares, while potentially favorable, is balanced by the need for further validation of rilparencel’s clinical efficacy and biological mechanisms. These factors contribute to a cautious outlook, justifying the Hold rating as the company navigates these challenges.
In another report released yesterday, Morgan Stanley also maintained a Hold rating on the stock with a $3.00 price target.
PROK’s price has also changed dramatically for the past six months – from $1.580 to $3.370, which is a 113.29% increase.