SVB Leerink Downgrades Chinook Therapeutics to Market Perform, Lowers Price Target to $40
Portfolio Pulse from richadhand@benzinga.com
SVB Leerink analyst Joseph Schwartz downgraded Chinook Therapeutics (NASDAQ:KDNY) from Outperform to Market Perform and lowered the price target from $44 to $40.
June 13, 2023 | 10:16 am
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Chinook Therapeutics (NASDAQ:KDNY) was downgraded by SVB Leerink analyst Joseph Schwartz from Outperform to Market Perform, with a reduced price target of $40.
The downgrade from Outperform to Market Perform and the lowering of the price target from $44 to $40 by SVB Leerink analyst Joseph Schwartz indicates a less optimistic outlook for Chinook Therapeutics. This could lead to a negative short-term impact on the stock price as investors may adjust their positions based on the new rating and price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100