ProKidney initiated with a Buy at Guggenheim

Guggenheim initiated coverage of ProKidney with a Buy rating and $6 price target. Despite recent advances in the treatment of chronic kidney disease, there remains a significant unmet medical need for additional therapeutic options, the analyst tells investors in a research note. Based on the early Phase 2 data from ProKidney’s innovative cell therapy approach, Guggenheim is optimistic that rilparencel will be a viable option for a subset of those patients to slow the progression of their kidney disease and delay the need for dialysis. Additional data from the Phase 2 REGEN-007 trial in the first half of 2025 2025 and more insights on rilparencel’s mechanism of action in the second half of 2025 “should help to derisk the story,” contends the firm.