Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Receives $24.75 Consensus Target Price from Brokerages

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $24.75.

A number of equities research analysts have issued reports on the company. Guggenheim cut their price target on Unicycive Therapeutics from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unicycive Therapeutics in a research note on Friday, March 27th. Benchmark cut their price target on Unicycive Therapeutics from $21.00 to $15.00 and set a “speculative buy” rating for the company in a research note on Monday, April 6th. Wall Street Zen lowered Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, B. Riley Financial assumed coverage on Unicycive Therapeutics in a research note on Friday, May 1st. They issued a “buy” rating and a $22.00 price target for the company.

Unicycive Therapeutics Stock Performance

Shares of UNCY stock opened at $7.95 on Tuesday. Unicycive Therapeutics has a 52-week low of $3.71 and a 52-week high of $11.00. The firm has a market capitalization of $212.27 million, a PE ratio of -3.66 and a beta of 1.78. The stock has a fifty day simple moving average of $7.01 and a two-hundred day simple moving average of $6.31.

Unicycive Therapeutics (NASDAQ:UNCY) last issued its quarterly earnings results on Monday, March 30th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.36). On average, sell-side analysts forecast that Unicycive Therapeutics will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP bought a new stake in shares of Unicycive Therapeutics in the first quarter worth about $940,000. Quadrature Capital Ltd purchased a new stake in shares of Unicycive Therapeutics in the fourth quarter worth about $226,000. Millennium Management LLC purchased a new stake in shares of Unicycive Therapeutics in the fourth quarter worth about $5,856,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Unicycive Therapeutics in the fourth quarter worth about $1,154,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Unicycive Therapeutics in the fourth quarter worth about $451,000. Hedge funds and other institutional investors own 40.42% of the company’s stock.

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. The company was incorporated in 2016 and is based in Los Altos, California.