Rain Therapeutics (NASDAQ:RAIN) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Rain Therapeutics (NASDAQ:RAIN) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Rain Therapeutics Inc. is a clinical-stage precision oncology company developing therapies which target oncogenic drivers. The company’s lead product candidate includes RAIN-32. Rain Therapeutics Inc. is based in NEWARK, Calif. “

Several other research analysts also recently issued reports on RAIN. Piper Sandler upped their price target on shares of Rain Therapeutics from $25.00 to $26.00 and gave the stock an overweight rating in a report on Wednesday, November 10th. Guggenheim decreased their price objective on Rain Therapeutics from $26.00 to $20.00 in a report on Monday, January 3rd. Finally, The Goldman Sachs Group downgraded Rain Therapeutics to a hold rating and set a $22.00 price objective for the company. in a report on Tuesday, September 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $24.00.

NASDAQ RAIN opened at $11.93 on Wednesday. The business has a fifty day moving average price of $13.69 and a two-hundred day moving average price of $15.44. Rain Therapeutics has a fifty-two week low of $11.04 and a fifty-two week high of $23.90.

Rain Therapeutics (NASDAQ:RAIN) last announced its quarterly earnings results on Wednesday, November 10th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.06). As a group, analysts predict that Rain Therapeutics will post -2.49 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC bought a new stake in Rain Therapeutics during the second quarter valued at $36,000. JPMorgan Chase & Co. bought a new position in shares of Rain Therapeutics during the 2nd quarter worth about $44,000. Deutsche Bank AG bought a new position in shares of Rain Therapeutics during the 2nd quarter worth about $68,000. Lumina Fund Management LLC bought a new position in shares of Rain Therapeutics during the 2nd quarter worth about $93,000. Finally, Zimmer Partners LP bought a new position in shares of Rain Therapeutics during the 2nd quarter worth about $155,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Rain Therapeutics Company Profile

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 RAIN-32, a small molecule oral inhibitor of mouse double minute 2, which is oncogenic in various cancers. The company is also developing RAIN-32 that has completed Phase II clinical trial in liposarcoma, Phase I clinical trial in solid tumors, and Phase II clinical trial in intimal sarcoma, as well as RAD52 for tumors, including breast, ovarian, prostate, and other cancers.

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