Piper Sandler Lowers Rain Therapeutics (NASDAQ:RAIN) Price Target to $12.00

Rain Therapeutics (NASDAQ:RAINGet Rating) had its target price cut by analysts at Piper Sandler from $26.00 to $12.00 in a research note issued to investors on Friday, The Fly reports. Piper Sandler’s price objective would suggest a potential upside of 380.00% from the stock’s previous close.

Separately, Oppenheimer started coverage on shares of Rain Therapeutics in a report on Thursday, March 31st. They set an “outperform” rating and a $15.00 price target on the stock.

Shares of Rain Therapeutics stock traded up $0.18 on Friday, reaching $2.50. 1,444 shares of the company traded hands, compared to its average volume of 70,032. The firm has a market capitalization of $66.28 million and a PE ratio of -1.03. The company has a 50 day moving average of $4.20 and a 200 day moving average of $8.45. Rain Therapeutics has a 52 week low of $2.15 and a 52 week high of $22.22.

Rain Therapeutics (NASDAQ:RAINGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.02. During the same period in the prior year, the business earned ($1.93) EPS. Equities research analysts predict that Rain Therapeutics will post -2.53 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in RAIN. Goldman Sachs Group Inc. increased its position in shares of Rain Therapeutics by 65.9% during the first quarter. Goldman Sachs Group Inc. now owns 16,655 shares of the company’s stock worth $84,000 after acquiring an additional 6,617 shares during the period. State Street Corp grew its stake in Rain Therapeutics by 42.0% in the first quarter. State Street Corp now owns 191,801 shares of the company’s stock valued at $972,000 after purchasing an additional 56,723 shares during the last quarter. Northern Trust Corp lifted its position in Rain Therapeutics by 69.0% during the first quarter. Northern Trust Corp now owns 121,824 shares of the company’s stock valued at $618,000 after acquiring an additional 49,727 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Rain Therapeutics by 2.7% during the first quarter. Vanguard Group Inc. now owns 521,033 shares of the company’s stock valued at $2,641,000 after buying an additional 13,758 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Rain Therapeutics by 8.4% during the first quarter. BlackRock Inc. now owns 803,211 shares of the company’s stock valued at $4,072,000 after buying an additional 62,340 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Rain Therapeutics Company Profile (Get Rating)

Rain Therapeutics Inc, a clinical-stage precision oncology company, engages in developing therapies that target oncogenic drivers in the United States. Its lead product candidate is milademetan, a small molecule oral inhibitor of mouse double minute 2, which is oncogenic in various cancers. The company is also developing milademetan which is in Phase 3 clinical trial for liposarcoma, Phase II clinical trial for solid tumors, and Phase II clinical trial for intimal sarcoma, as well as RAD52 which is in preclinical trials for tumors, including breast, ovarian, pancreatic, prostate, and other cancers.

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