BTIG lowered the firm’s price target on Renalytix to $3.50 from $4.00 to reflect a higher share count but keeps a Buy rating on the shares after its Q2 results. The update highlights that the company is hopeful to obtain FDA approval by June 2023 and is also adding on new private payor coverage, the analyst tells investors in a research note. BTIG adds that Renalytix continues to get paid at or above its Medicare price, which shows strong pricing discipline.
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