Two Consecutive Days With Bullish Analyst Price Targets

Two Consecutive Days With Bullish Analyst Price Targets

By: Dylan Sikes – AllPennyStocks.com News

Wednesday, September 14, 2022

Biotech is getting some attention this week as healthcare stocks seem to be outperforming major indices. Just today, a certain Connecticut-based biotech turned heads after BTIG analyst Yun Zhong initiated coverage on the stock with a buy rating and a price target of $8.00/share. Seeing that shares of Renovacor Inc. (AMEX:RCOR) closed at just $1.75/share yesterday, traders saw an opportunity.

Renovacor Inc is a preclinical stage gene therapy company developing a pipeline of innovative and proprietary AAV-based gene therapies for BAG3 gene mutation-associated diseases in areas of high unmet medical need. Its therapeutic focus is on cardiovascular disease, with a lead program in BAG3 mutation-associated dilated cardiomyopathy.

This coverage initiation and bullish price target marks the second consecutive day that an analyst report came out on this stock, yesterday’s being that Baird initiated coverage with an outperform rating and a price target of $9.00/share. Shares reached up to $2.24/share (+28.00%) at Wednesday’s session high.

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