Jefferies starts ProKidney with a Buy, sees multi-billion dollar opportunity

As previously reported, Jefferies analyst Kelly Shi initiated coverage of ProKidney with a Buy rating and $15 price target. ProKidney has developed an autologous cell therapy, REACT, that has the potential to treat Chronic Kidney Disease, or CKD, noted Shi. If the company’s Phase 3 data replicate the Phase 2 results, Shi thinks this novel therapeutic approach could capture a multi-billion dollar opportunity in the CKD market, the analyst said. Even about 1% market penetration to diabetes can generate about $4B in sales, added the analyst.