Rain Oncology (NASDAQ:RAIN) Price Target Cut to $17.00

Rain Oncology (NASDAQ:RAIN – Get Rating) had its price objective cut by equities research analysts at Mizuho from $18.00 to $17.00 in a note issued to investors on Monday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s price target would indicate a potential upside of 98.37% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Roth Capital reissued a “buy” rating and issued a $21.00 price target on shares of Rain Oncology in a research note on Tuesday, January 31st. Citigroup decreased their price objective on Rain Oncology from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, November 23rd. EF Hutton Acquisition Co. I reissued a “buy” rating and set a $16.00 price objective on shares of Rain Oncology in a research report on Thursday, February 9th. Lifesci Capital reissued an “outperform” rating on shares of Rain Oncology in a research report on Friday, January 6th. Finally, HC Wainwright upped their price objective on shares of Rain Oncology from $12.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 10th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $18.25.

Rain Oncology Stock Performance

Shares of Rain Oncology stock opened at $8.57 on Monday. The business’s 50 day moving average price is $9.53 and its 200 day moving average price is $7.41. The company has a market cap of $227.70 million, a price-to-earnings ratio of -3.17 and a beta of 0.10. Rain Oncology has a one year low of $2.15 and a one year high of $14.48.

Rain Oncology (NASDAQ:RAIN – Get Rating) last posted its quarterly earnings results on Thursday, March 9th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.09). On average, analysts predict that Rain Oncology will post -1.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Rain Oncology

A number of hedge funds have recently bought and sold shares of RAIN. Morgan Stanley raised its stake in Rain Oncology by 11.8% in the fourth quarter. Morgan Stanley now owns 12,287 shares of the company’s stock valued at $98,000 after buying an additional 1,300 shares in the last quarter. Millennium Management LLC raised its holdings in Rain Oncology by 18.6% during the second quarter. Millennium Management LLC now owns 29,405 shares of the company’s stock worth $163,000 after purchasing an additional 4,602 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Rain Oncology by 65.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 16,655 shares of the company’s stock worth $84,000 after buying an additional 6,617 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Rain Oncology by 46.7% in the 3rd quarter. Renaissance Technologies LLC now owns 22,000 shares of the company’s stock valued at $107,000 after buying an additional 7,000 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Rain Oncology by 79.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 28,401 shares of the company’s stock worth $158,000 after acquiring an additional 12,616 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

About Rain Oncology

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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.