ProKidney (PROK – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Judah Frommer from Morgan Stanley maintained a Hold rating on the stock and has a $3.00 price target.
Judah Frommer has given his Hold rating due to a combination of factors related to ProKidney’s current financial and developmental status. The company has reiterated its timeline for the development of rilparencel, with the potential for an accelerated approval pathway based on discussions with the FDA. However, the topline results from the pivotal PROACT 1 study are not expected until the third quarter of 2027, which introduces a degree of uncertainty in the near term.
ProKidney’s cash position is expected to sustain operations until mid-2027, providing some financial stability. Despite this, the stock’s current price target remains at $3, reflecting a cautious outlook based on a discounted cash flow analysis. The upcoming data from the REGEN-007 Phase 2 study in the second quarter of 2025 is anticipated to further inform the company’s clinical strategy, but until then, the Hold rating suggests a wait-and-see approach for investors.
PROK’s price has also changed dramatically for the past six months – from $2.390 to $1.040, which is a -56.49% drop .