HC Wainwright & Co. Downgrades Reneo Pharmaceuticals to Neutral, Lowers Price Target to $1.5
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Mitchell Kapoor has downgraded Reneo Pharmaceuticals (NASDAQ:RPHM) from Buy to Neutral and significantly reduced the price target from $30 to $1.5.
December 15, 2023 | 11:30 am
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Reneo Pharmaceuticals was downgraded by HC Wainwright & Co. from Buy to Neutral, with a price target decrease from $30 to $1.5, indicating a bearish outlook.
The downgrade from Buy to Neutral suggests that the analyst sees limited upside potential or increased risk in the stock. The drastic reduction in the price target from $30 to $1.5 is a strong bearish signal that could negatively impact investor sentiment and the stock price in the short term.
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