Unicycive Therapeutics price target lowered to $15 from $21 at Benchmark

Benchmark lowered the firm’s price target on Unicycive Therapeutics (UNCY) to $15 from $21 and keeps a Speculative Buy rating on the shares. After having updated the firm’s share count and other assumptions, the firm notes that Unicycive had an unaudited cash balance of $54.9M in cash, cash equivalents, and short-term investments as of March 30, which should fund operations into 2027 and carry oxylanthanum carbonate through the regulatory approval process and preparations for commercialization.