Jefferies Downgrades Reneo Pharmaceuticals to Hold, Lowers Price Target to $1.8
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Eun Yang has downgraded Reneo Pharmaceuticals (NASDAQ:RPHM) from Buy to Hold and significantly reduced the price target from $17 to $1.8.

December 15, 2023 | 10:53 am
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Jefferies downgraded Reneo Pharmaceuticals to Hold and slashed the price target from $17 to $1.8, indicating a bearish outlook on the stock.
The downgrade from Buy to Hold by a major analyst firm like Jefferies, accompanied by a drastic reduction in the price target, suggests a significant change in the firm's outlook on Reneo Pharmaceuticals. This is likely to be interpreted negatively by the market, potentially leading to a decrease in investor confidence and a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100