BTIG analyst Justin Zelin lowered the firm’s price target on ProKidney to $6 from $16 and keeps a Buy rating on the shares. The firm is adjusting its market model to reflect the diabetic CKD stage 3b/4 population while moving out its market launch timelines from 2027 to 2028, the analyst tells investors in a research note. BTIG adds however that investors are missing the fact that REACT continues to demonstrate stabilization of eGFR in late-stage diabetic CKD patients out to 30 months.
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