HC Wainwright Reaffirms “Buy” Rating for Unicycive Therapeutics (NASDAQ:UNCY)

Unicycive Therapeutics (NASDAQ:UNCY)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $2.50 price objective on the stock. HC Wainwright’s target price points to a potential upside of 422.90% from the company’s previous close.

Separately, Benchmark reaffirmed a “speculative buy” rating and issued a $3.00 target price on shares of Unicycive Therapeutics in a research note on Friday, September 6th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $5.13.

Unicycive Therapeutics Price Performance

Shares of UNCY stock opened at $0.48 on Tuesday. The stock has a market capitalization of $45.11 million, a price-to-earnings ratio of -0.46 and a beta of 2.29. The company’s fifty day simple moving average is $0.43 and its two-hundred day simple moving average is $0.56. Unicycive Therapeutics has a 1 year low of $0.20 and a 1 year high of $1.82.

Unicycive Therapeutics (NASDAQ:UNCY) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.08. Equities research analysts anticipate that Unicycive Therapeutics will post -0.26 EPS for the current year.

Hedge Funds Weigh In On Unicycive Therapeutics

Large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in Unicycive Therapeutics during the first quarter valued at approximately $36,000. Bleakley Financial Group LLC purchased a new stake in shares of Unicycive Therapeutics in the 3rd quarter valued at $33,000. BVF Inc. IL grew its holdings in shares of Unicycive Therapeutics by 70.5% during the 1st quarter. BVF Inc. IL now owns 3,611,601 shares of the company’s stock valued at $4,984,000 after purchasing an additional 1,493,462 shares during the last quarter. Finally, Great Point Partners LLC bought a new position in shares of Unicycive Therapeutics during the 3rd quarter valued at $3,491,000. 40.42% of the stock is owned by hedge funds and other institutional investors.

Unicycive Therapeutics Company Profile

Unicycive Therapeutics, Inc, a biotechnology company, engages in developing novel therapies for kidney diseases in the United States. It is developing Renazorb for treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis; and UNI 494, which is in Phase 1 clinical trials for treatment of acute kidney injury.