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ProKidney price target raised to $4 from $3 at BofA

ProKidney price target raised to $4 from $3 at BofA

BofA analyst Jason Gerberry raised the firm’s price target on ProKidney (PROK) to $4 from $3 and keeps a Neutral rating on the shares. The analyst cites the company’s data that shows better prospects for its cell therapy drug REACT, noting that while the recent data from Novo’s (NVO) semaglutide FLOW study showed that its drug has limited use for patients with stage 3b-4 CKD patients, this is the market that ProKidney’s REACT is expected to be used in.

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