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

Shares of Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM – Get Rating) have received a consensus rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $29.75.

RPHM has been the topic of a number of analyst reports. Zacks Investment Research downgraded Reneo Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday. Robert W. Baird initiated coverage on Reneo Pharmaceuticals in a research report on Wednesday, January 26th. They set an “outperform” rating and a $28.00 price objective on the stock. SVB Leerink reiterated an “outperform” rating on shares of Reneo Pharmaceuticals in a research report on Tuesday, May 10th. Finally, Piper Sandler reduced their price objective on Reneo Pharmaceuticals from $45.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday.

A number of hedge funds have recently bought and sold shares of RPHM. Geode Capital Management LLC grew its stake in shares of Reneo Pharmaceuticals by 67.4% in the third quarter. Geode Capital Management LLC now owns 120,668 shares of the company’s stock valued at $898,000 after buying an additional 48,599 shares in the last quarter. Morgan Stanley acquired a new stake in shares of Reneo Pharmaceuticals in the second quarter valued at $291,000. Millennium Management LLC acquired a new stake in shares of Reneo Pharmaceuticals in the fourth quarter valued at $214,000. BlackRock Inc. grew its stake in shares of Reneo Pharmaceuticals by 7.7% in the fourth quarter. BlackRock Inc. now owns 316,875 shares of the company’s stock valued at $2,709,000 after buying an additional 22,594 shares in the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Reneo Pharmaceuticals in the first quarter valued at $65,000. 79.53% of the stock is owned by institutional investors.

Shares of NASDAQ RPHM traded down $0.10 during midday trading on Friday, hitting $1.92. The stock had a trading volume of 4,954 shares, compared to its average volume of 91,040. The company has a market capitalization of $46.96 million and a PE ratio of -1.01. The stock has a 50 day simple moving average of $2.73 and a 200-day simple moving average of $5.49. Reneo Pharmaceuticals has a 1 year low of $2.00 and a 1 year high of $12.78.

Reneo Pharmaceuticals (NASDAQ:RPHM – Get Rating) last released its earnings results on Wednesday, March 23rd. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.16. Equities research analysts anticipate that Reneo Pharmaceuticals will post -2.5 earnings per share for the current 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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