What To Know About Guggenheim's Downgrade of Chinook Therapeutics
Portfolio Pulse from Benzinga Insights
Guggenheim has downgraded Chinook Therapeutics (NASDAQ:KDNY) to Neutral with a price target of $40.00, up from $35.00. Chinook Therapeutics' shares are trading up 57.59% over the last 24 hours, at $37.80 per share.
June 12, 2023 | 5:01 pm
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NEUTRAL IMPACT
Guggenheim downgraded Chinook Therapeutics to Neutral with a new price target of $40.00. Shares are trading up 57.59% over the last 24 hours.
Guggenheim's downgrade to Neutral indicates that they believe the stock is fairly valued at its current price. The new price target of $40.00 is only a 5.81% increase from the current share price, suggesting limited upside potential. The stock has already experienced a significant increase in the last 24 hours, which may have factored into Guggenheim's decision to downgrade the rating.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100