Chinook Therapeutics (NASDAQ:KDNY) Announces Quarterly Earnings Results, Misses Expectations By $0.82 EPS
Chinook Therapeutics (NASDAQ:KDNY) posted its quarterly earnings data on Tuesday. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.82), MarketWatch Earnings reports. Chinook Therapeutics had a negative return on equity of 112.72% and a negative net margin of 215.80%.
Shares of KDNY opened at $14.75 on Thursday. The stock has a market capitalization of $621.83 million, a price-to-earnings ratio of -4.10 and a beta of 0.26. The stock has a 50 day moving average price of $16.88. Chinook Therapeutics has a 1 year low of $10.50 and a 1 year high of $21.68.
A number of research firms have recently commented on KDNY. Wedbush began coverage on Chinook Therapeutics in a research note on Wednesday, January 6th. They set an “outperform” rating and a $28.00 target price on the stock. Zacks Investment Research upgraded Chinook Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, January 11th. Cantor Fitzgerald started coverage on Chinook Therapeutics in a report on Wednesday, December 9th. They set an “overweight” rating and a $31.00 price objective for the company. Finally, Bloom Burton reissued a “buy” rating on shares of Chinook Therapeutics in a report on Monday, March 22nd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Chinook Therapeutics presently has a consensus rating of “Buy” and an average price target of $28.29.
Chinook Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of precision medicines for kidney diseases. The company's lead clinical program is atrasentan, an investigational Phase III ready endothelin receptor antagonist for the treatment of IgA nephropathy and other primary glomerular diseases.
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