What To Know About Guggenheim's Downgrade of Chinook Therapeutics

Guggenheim downgraded its rating of Chinook Therapeutics KDNY to Neutral with a price target of $40.00, changing its price target from $35.00 to $40.00.

Shares of Chinook Therapeutics are trading up 57.59% over the last 24 hours, at $37.80 per share.

A move to $40.00 would account for a 5.81% increase from the current share price.

About Chinook Therapeutics

Chinook Therapeutics Inc is a clinical-stage biotechnology company. The products of the company are focused on rare, severe chronic kidney disorders. The clinical program is atrasentan, a potent and selective endothelin A receptor antagonist and currently conducting the phase 3 ALIGN trial of atrasentan for IgA nephropathy (IgAN) and the phase 2 AFFINITY basket trial for proteinuric glomerular diseases. The second product candidate, BION-1301, is an anti-APRIL monoclonal antibody and the third product candidate is CHK-336, an oral small-molecule LDHA inhibitor for the treatment of primary and idiopathic hyperoxaluria. It is incorporated in Delaware and is headquartered in Seattle, Washington.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.