JP Morgan Maintains a Neutral Stance on ProKidney Corp. (PROK)

ProKidney Corp. (NASDAQ:PROK) is one of the hot penny stocks to invest in nowOn July 15, JP Morgan analyst Anupam Rama maintained a neutral stance on ProKidney Corp. (NASDAQ:PROK), giving the stock a Hold rating without a price target.

A scientist in a laboratory examining a microscope in the pursuit of cell therapy discoveries.

The analyst based the rating on the company’s current developments. He acknowledged that ProKidney Corp.’s (NASDAQ:PROK) recent alignment with the FDA for an accelerated approval pathway for rilparencel is an optimistic development and highlights progress in its pivotal PROACT 1 study.

However, Rama also stated that the time for the attainment of necessary data for the accelerated approval is longer than previously expected, as key data is expected to roll out in Q2 2027.

The analyst thus reasoned that although there have been notable optimistic updates in the trial, the extended timeline may weigh on investor sentiment, warranting a cautious outlook on the stock.

ProKidney Corp. (NASDAQ:PROK) is a clinical-stage biotechnology company that develops a proprietary cell therapy platform. The company’s emphasis is on chronic kidney disease treatment, shifting focus to kidney function restoration to delay or stop the progression of CKD.

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Disclosure: None. This article is originally published at Insider Monkey.