Unicycive Therapeutics price target raised to $6 from $3 at Maxim

Maxim raised the firm’s price target on Unicycive Therapeutics to $6 from $3 and keeps a Buy rating on the shares. The analyst cites the company’s $30M convertible preferred stock equity raise which should fund its operations through breakeven, assuming Renazorb is approved in mid-2024. This transaction is a "significant positive" and has highlighted a unique opportunity for Unicycive posed by changes coming to the dialysis reimbursement environment, the firm tells investors in a research note.