Chinook Therapeutics PT raised by Stifel on optimism over kidney disease treatment

Chinook Therapeutics

22/12/2022 15:56

** Brokerage Stifel raises PT of kidney disease-focused
biopharma Chinook Therapeutics Inc  KDNY.O  to $43 from $30
    ** Stifel sees company as one of its top biopharma picks for
2023 trial data readouts; KDNY shares up 1.9% at ~$26
    ** Brokerage optimistic on company's kidney disorder
treatment atrasentan
    ** Atrasentan is being developed as a potential treatment
for IgA nephropathy (IgAN) 
    ** IgAN is an autoimmune disease that occurs when an
abnormal protein damages the filtering unit inside the kidneys
    ** Stifel says it likes the prospects of atrasentan and
believes the trial data could help solidify best-in-class status
for IgAN treatment
    ** All 10 brokerages covering the stock rate it "buy" or
higher; median PT $33 - Refinitiv
    ** Including session's gains, stock up ~58% YTD
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com))