Wedbush initiated coverage on shares of Chinook Therapeutics (NASDAQ:KDNY) in a report issued on Wednesday, Analyst Ratings Network reports. The firm issued an outperform rating and a $28.00 price target on the stock. Wedbush also issued estimates for Chinook Therapeutics’ Q4 2020 earnings at ($0.44) EPS, FY2020 earnings at ($2.62) EPS, Q1 2021 earnings at ($0.38) EPS, Q2 2021 earnings at ($0.42) EPS, Q3 2021 earnings at ($0.45) EPS, Q4 2021 earnings at ($0.49) EPS, FY2021 earnings at ($1.74) EPS, FY2022 earnings at ($2.33) EPS, FY2023 earnings at ($3.37) EPS, FY2024 earnings at ($3.70) EPS and FY2025 earnings at ($2.28) EPS.
Other equities analysts have also issued research reports about the stock. William Blair reissued an outperform rating on shares of Chinook Therapeutics in a report on Tuesday, October 6th. HC Wainwright began coverage on shares of Chinook Therapeutics in a report on Monday, November 16th. They issued a buy rating and a $28.00 price target on the stock. Oppenheimer raised shares of Chinook Therapeutics from a market perform rating to an outperform rating and set a $25.00 target price on the stock in a report on Tuesday, October 20th. Evercore ISI began coverage on shares of Chinook Therapeutics in a report on Monday, November 2nd. They set an outperform rating and a $32.00 target price on the stock. Finally, Cantor Fitzgerald began coverage on shares of Chinook Therapeutics in a report on Wednesday, December 9th. They set an overweight rating and a $31.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Chinook Therapeutics presently has an average rating of Buy and an average price target of $28.29.
NASDAQ KDNY opened at $16.35 on Wednesday. Chinook Therapeutics has a 1 year low of $5.55 and a 1 year high of $21.68. The stock has a market cap of $689.28 million, a PE ratio of -4.54 and a beta of 0.25. The business has a 50 day moving average price of $15.37.
Chinook Therapeutics (NASDAQ:KDNY) last posted its earnings results on Thursday, November 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.67). Chinook Therapeutics had a negative return on equity of 112.72% and a negative net margin of 215.80%. The firm had revenue of $3.79 million during the quarter, compared to analysts’ expectations of $2.75 million. On average, equities research analysts forecast that Chinook Therapeutics will post -1.23 earnings per share for the current fiscal year.
In related news, CEO Eric Dobmeier purchased 2,000 shares of Chinook Therapeutics stock in a transaction dated Tuesday, December 8th. The stock was purchased at an average cost of $13.24 per share, for a total transaction of $26,480.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 5,429 shares of company stock valued at $73,649 over the last quarter. Company insiders own 5.90% of the company’s stock.
About Chinook Therapeutics
Chinook Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of precision medicines for kidney diseases. The company's lead clinical program is atrasentan, an investigational Phase III ready endothelin receptor antagonist for the treatment of IgA nephropathy and other primary glomerular diseases.
Read More: What is a Stop Order?