H.C. Wainwright Reiterates Buy Rating on Rain Therapeutics (RAIN)

H.C. Wainwright analyst Mitchell Kapoor reiterated a Buy rating and $11.00 price target on Rain Therapeutics (NASDAQ: RAIN).

The analyst commented: "Rani delivered what we view as its most important platform dataset to date, with initial Phase 1a results showing that a 12 mg oral dose of RT-114 achieved systemic exposure greater than 150% of an identical subcutaneous dose of PG-102. The result materially exceeded our expectations, while nearly identical elimination half-lives confirm that RaniPill HC preserved the underlying pharmacokinetic profile of the molecule. Importantly, there were no serious adverse events, no adverse events attributed to the capsule and only mild, transient gastrointestinal events consistent with the GLP-1 class. In our view, the data materially increase confidence that RT-114 can reach therapeutically relevant, and potentially higher, exposures using a practical oral dosing regimen, strengthen the read-through to the Chugai collaboration and should further increase partnering interest in the RaniPill platform. We reiterate our Buy and $11 price target."

For an analyst ratings summary and ratings history on Rain Therapeutics click here. For more ratings news on Rain Therapeutics click here.

Shares of Rain Therapeutics closed at $1.64 yesterday.

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