Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) Receives Average Recommendation of “Buy” from Brokerages

Shares of Reneo Pharmaceuticals, Inc. (NASDAQ:RPHMGet Rating) have been given a consensus recommendation of “Buy” by the seven research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $30.83.

Several research analysts have recently commented on the company. Zacks Investment Research downgraded Reneo Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, January 12th. Robert W. Baird began coverage on Reneo Pharmaceuticals in a report on Wednesday, January 26th. They issued an “outperform” rating and a $28.00 price objective on the stock. Finally, SVB Leerink cut their target price on Reneo Pharmaceuticals from $25.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, March 24th.

A number of institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN bought a new stake in shares of Reneo Pharmaceuticals in the 4th quarter worth approximately $68,000. Qube Research & Technologies Ltd bought a new stake in shares of Reneo Pharmaceuticals in the 4th quarter worth approximately $115,000. Charles Schwab Investment Management Inc. boosted its position in shares of Reneo Pharmaceuticals by 40.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,830 shares of the company’s stock worth $161,000 after purchasing an additional 5,459 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Reneo Pharmaceuticals in the 4th quarter worth approximately $214,000. Finally, Bank of America Corp DE boosted its position in shares of Reneo Pharmaceuticals by 84.5% in the 4th quarter. Bank of America Corp DE now owns 32,964 shares of the company’s stock worth $282,000 after purchasing an additional 15,097 shares in the last quarter. 83.68% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ RPHM traded down $0.05 during trading hours on Monday, reaching $2.26. 1,784 shares of the stock traded hands, compared to its average volume of 42,633. The stock has a 50 day simple moving average of $3.65 and a two-hundred day simple moving average of $6.06. Reneo Pharmaceuticals has a 1 year low of $2.21 and a 1 year high of $14.95. The company has a market cap of $55.28 million and a price-to-earnings ratio of -0.46.

Reneo Pharmaceuticals (NASDAQ:RPHMGet Rating) last released its quarterly earnings data on Wednesday, March 23rd. The company reported ($0.43) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.59) by $0.16. On average, equities research analysts expect that Reneo Pharmaceuticals will post -2.48 earnings per share for the current fiscal year.

About Reneo Pharmaceuticals (Get Rating)

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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