Rain Therapeutics (NASDAQ:RAIN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Rain Therapeutics (NASDAQ:RAIN) from a sell rating to a hold rating in a report published on Wednesday, 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 brokerages also recently weighed in on RAIN. The Goldman Sachs Group downgraded Rain Therapeutics to a hold rating and set a $22.00 target price for the company. in a research note on Tuesday, September 14th. Guggenheim reduced their price objective on Rain Therapeutics from $26.00 to $20.00 in a research report on Monday, January 3rd. Finally, Piper Sandler raised their price objective on Rain Therapeutics from $25.00 to $26.00 and gave the stock an overweight rating in a research report on Wednesday, November 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $24.00.

RAIN opened at $11.93 on Wednesday. The stock has a 50-day moving average of $13.69 and a 200-day moving average of $15.44. Rain Therapeutics has a 52-week low of $11.04 and a 52-week high of $23.90.

Rain Therapeutics (NASDAQ:RAIN) last announced its earnings results on Wednesday, November 10th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.06). On average, equities research analysts forecast that Rain Therapeutics will post -2.49 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp acquired a new stake in Rain Therapeutics during the 2nd quarter valued at $1,385,000. Nuveen Asset Management LLC acquired a new stake in Rain Therapeutics during the 2nd quarter valued at $181,000. FMR LLC acquired a new stake in Rain Therapeutics during the 2nd quarter valued at $12,432,000. Nisa Investment Advisors LLC acquired a new stake in Rain Therapeutics during the 3rd quarter valued at $214,000. Finally, Boxer Capital LLC acquired a new stake in Rain Therapeutics during the 2nd quarter valued at $18,260,000. 68.64% of the stock is 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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