H.C. Wainwright has revised its price target for Transcode Therapeutics (RNAZ, Financial), reducing it from $20 to $10. Despite this adjustment, the firm maintains a Buy rating on the stock. The decision comes after an analysis of Transcode’s latest annual financial filings and recent equity fundraising activities.
The updated evaluation reflects the implications of the company’s recent equity raises, which have influenced the firm's updated financial model for Transcode. However, the firm remains optimistic about the company's future, projecting that the current cash reserves and raised funds will be sufficient to sustain operational expenses until 2026. This financial outlook reinforces H.C. Wainwright’s confidence in Transcode’s strategic plans and ongoing projects.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for TransCode Therapeutics Inc (RNAZ, Financial) is $20.00 with a high estimate of $20.00 and a low estimate of $20.00. The average target implies an upside of 4,925.13% from the current price of $0.40. More detailed estimate data can be found on the TransCode Therapeutics Inc (RNAZ) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, TransCode Therapeutics Inc's (RNAZ, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
