Unicycive Therapeutics price target adjusted at Benchmark after reverse split

Benchmark raised the firm’s price target on Unicycive Therapeutics (UNCY) to $21 from $3 and keeps a Speculative Buy rating on the shares, noting that the firm’s new price target reflects a 1:10 reverse split and an updated discount rate after Unicycive said that it plans to complete a Type A meeting with the FDA to gain alignment on the best strategy to resolve the remaining issues outlined in the complete response letter for the oxylanthanum carbonate New Drug Application.