Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) Given Consensus Recommendation of “Buy” by Analysts

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) has been assigned an average rating of “Buy” from 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 issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $33.40.

Several research analysts have recently issued reports on RPHM shares. LADENBURG THALM/SH SH began coverage on shares of Reneo Pharmaceuticals in a research note on Monday, November 22nd. They issued a “buy” rating and a $45.00 target price on the stock. Zacks Investment Research cut shares of Reneo Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, HC Wainwright assumed coverage on shares of Reneo Pharmaceuticals in a report on Tuesday, December 21st. They set a “buy” rating and a $28.00 target price for the company.

Several hedge funds and other institutional investors have recently made changes to their positions in RPHM. Deutsche Bank AG purchased a new stake in shares of Reneo Pharmaceuticals in the second quarter worth $35,000. JPMorgan Chase & Co. purchased a new stake in shares of Reneo Pharmaceuticals in the second quarter worth $73,000. California State Teachers Retirement System bought a new position in shares of Reneo Pharmaceuticals during the second quarter worth $81,000. New York State Common Retirement Fund bought a new position in shares of Reneo Pharmaceuticals during the second quarter worth $121,000. Finally, Tudor Investment Corp Et Al bought a new position in shares of Reneo Pharmaceuticals during the second quarter worth $125,000. 75.22% of the stock is owned by hedge funds and other institutional investors.

RPHM stock opened at $8.98 on Friday. The firm’s 50-day moving average price is $7.96 and its two-hundred day moving average price is $8.05. Reneo Pharmaceuticals has a 12-month low of $5.95 and a 12-month high of $17.18.

Reneo Pharmaceuticals (NASDAQ:RPHM) last announced its earnings results on Thursday, November 11th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). As a group, equities analysts predict that Reneo Pharmaceuticals will post -3.44 EPS for the current year.

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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Analyst Recommendations for Reneo Pharmaceuticals (NASDAQ:RPHM)

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