Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) has been given a consensus rating of “Buy” by the six ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $33.40.
Several brokerages have commented on RPHM. HC Wainwright began coverage on shares of Reneo Pharmaceuticals in a research note on Tuesday, December 21st. They set a “buy” rating and a $28.00 price objective for the company. Zacks Investment Research lowered shares of Reneo Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Reneo Pharmaceuticals in a report on Monday, November 22nd. They set a “buy” rating and a $45.00 target price for the company.
NASDAQ:RPHM opened at $8.98 on Friday. Reneo Pharmaceuticals has a fifty-two week low of $5.95 and a fifty-two week high of $17.18. The company’s 50-day simple moving average is $7.96 and its 200-day simple moving average is $8.05.
A number of hedge funds and other institutional investors have recently bought and sold shares of RPHM. Deutsche Bank AG purchased a new stake in Reneo Pharmaceuticals during the second quarter worth about $35,000. JPMorgan Chase & Co. purchased a new stake in shares of Reneo Pharmaceuticals during the second quarter worth approximately $73,000. California State Teachers Retirement System purchased a new position in Reneo Pharmaceuticals in the second quarter valued at approximately $81,000. New York State Common Retirement Fund purchased a new position in Reneo Pharmaceuticals in the second quarter valued at approximately $121,000. Finally, Tudor Investment Corp Et Al purchased a new position in Reneo Pharmaceuticals in the second quarter valued at approximately $125,000. 75.22% of the stock is currently owned by institutional investors.
About Reneo Pharmaceuticals
Reneo Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the development of therapies for patients with rare genetic mitochondrial diseases. It develops REN001, a selective peroxisome proliferator-activated receptor delta agonist, which is in Phase IIb clinical trial in patients with primary mitochondrial myopathies, as well as in Phase 1b clinical trial in patients with long-chain fatty acid oxidation disorders and glycogen storage disease type V.
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