Benchmark Issues Positive Forecast for Unicycive Therapeutics (NASDAQ:UNCY) Stock Price

Key Points

• Benchmark raised the price target for Unicycive Therapeutics from $3.00 to $21.00, indicating a potential upside of 442.64% from the company's previous close.
• The stock currently has a consensus rating of "Buy" from analysts, with an average price target of $57.00.
• Unicycive Therapeutics is developing therapies for kidney diseases, with its pipeline including Renazorb and UNI 494 in clinical trials.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) had its price target hoisted by equities researchers at Benchmark to $21.00 in a report issued on Monday, MarketBeat Ratings reports. The brokerage presently has a "speculative buy" rating on the stock. Benchmark's price target points to a potential upside of 410.33% from the company's current price.

A number of other research firms also recently issued reports on UNCY. Wall Street Zen upgraded Unicycive Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. HC Wainwright upgraded Unicycive Therapeutics to a "strong-buy" rating and set a $90.00 price target on the stock in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $57.00.

Unicycive Therapeutics Trading Up 4.4%

UNCY traded up $0.18 during trading on Monday, hitting $4.12. 268,883 shares of the company's stock traded hands, compared to its average volume of 377,599. The company's 50 day simple moving average is $4.40 and its two-hundred day simple moving average is $5.45. Unicycive Therapeutics has a 12-month low of $3.40 and a 12-month high of $11.00. The stock has a market capitalization of $72.67 million, a price-to-earnings ratio of -1.00 and a beta of 1.87.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.70) by $0.18. On average, equities analysts expect that Unicycive Therapeutics will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Unicycive Therapeutics

Several large investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Unicycive Therapeutics in the second quarter worth about $55,000. JPMorgan Chase & Co. increased its holdings in shares of Unicycive Therapeutics by 11,698.4% in the second quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company's stock worth $104,000 after purchasing an additional 21,525 shares during the last quarter. Vivo Capital LLC increased its holdings in shares of Unicycive Therapeutics by 14.0% in the first quarter. Vivo Capital LLC now owns 11,370,152 shares of the company's stock worth $6,537,000 after purchasing an additional 1,400,000 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Unicycive Therapeutics by 142.4% in the fourth quarter. Northern Trust Corp now owns 58,181 shares of the company's stock worth $46,000 after purchasing an additional 34,183 shares during the last quarter. 40.42% of the stock is owned by institutional investors.

Unicycive Therapeutics Company Profile

Unicycive Therapeutics, Inc, a biotechnology company, engages in developing novel therapies for kidney diseases in the United States. It is developing Renazorb for treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis; and UNI 494, which is in Phase 1 clinical trials for treatment of acute kidney injury.