Brokerages Expect Renalytix Plc (NASDAQ:RNLX) Will Announce Quarterly Sales of $2.39 Million

Analysts expect Renalytix Plc (NASDAQ:RNLXGet Rating) to post sales of $2.39 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Renalytix’s earnings, with the lowest sales estimate coming in at $1.80 million and the highest estimate coming in at $3.40 million. Renalytix reported sales of $620,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 285.5%. The business is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Renalytix will report full year sales of $9.61 million for the current year, with estimates ranging from $7.60 million to $11.20 million. For the next financial year, analysts anticipate that the company will post sales of $37.85 million, with estimates ranging from $33.50 million to $40.96 million. Zacks’ sales averages are an average based on a survey of research analysts that cover Renalytix.

A number of equities research analysts have recently commented on RNLX shares. BTIG Research dropped their price target on Renalytix from $24.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, April 1st. Zacks Investment Research lowered shares of Renalytix from a “hold” rating to a “sell” rating in a research note on Wednesday, April 6th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Renalytix in a research report on Friday, April 1st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Renalytix from $25.00 to $8.00 in a research report on Friday, April 1st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Renalytix has an average rating of “Buy” and an average target price of $23.80.

NASDAQ:RNLX opened at $5.83 on Thursday. Renalytix has a 1 year low of $5.70 and a 1 year high of $35.71. The stock has a 50-day moving average price of $8.10 and a two-hundred day moving average price of $14.44. The stock has a market cap of $210.78 million, a price-to-earnings ratio of -10.60 and a beta of 1.61.

Hedge funds have recently made changes to their positions in the company. Skye Global Management LP bought a new position in Renalytix in the fourth quarter valued at $105,000. Slate Path Capital LP bought a new position in shares of Renalytix in the 4th quarter valued at about $2,786,000. Legal & General Group Plc acquired a new stake in shares of Renalytix in the fourth quarter valued at about $307,000. Marshall Wace LLP bought a new stake in Renalytix during the fourth quarter worth about $403,000. Finally, Millennium Management LLC acquired a new position in Renalytix during the fourth quarter valued at approximately $287,000. 16.72% of the stock is currently owned by institutional investors and hedge funds.

Renalytix Company Profile (Get Rating)

Renalytix Plc develops artificial intelligence-enabled in vitro diagnostic solutions for kidney diseases. The company offers KidneyIntelX, a diagnostic platform that employs an artificial intelligence-enabled algorithm that combines various data inputs, including validated blood-based biomarkers, inherited genetics and personalized patient data from electronic health record systems to generate a unique patient risk score.

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