UPDATE: BTIG Starts Renalytix AI Plc. (RNLX) at Buy

BTIG analyst Mark Massaro initiates coverage on Renalytix AI Plc. (NASDAQ: RNLX) with a Buy rating and a price target of $24.00.

The analyst comments "We initiate coverage of Renalytix with a Buy rating and $24 price target. Renalytix is an early-stage commercial, platform-based diagnostics company that seeks to improve physician decision-making by identifying early-stage renal disease with its blood-based, proprietary KidneyIntelX test, to enable early intervention which can slow the progression of kidney disease and help prevent kidney failure. RNLX addresses a large initial $11B market, and we are not aware of any competition. We believe RNLX can expand itstestlabel from ~12 million patientsto ~37 million patients and expand its market opportunity. We believe RNLX is positioned to benefitfrom the rising tide of implementing proactive precision medicine, which is well understood in early cancer detection, but hasn't yet been applied to kidney disease."

For an analyst ratings summary and ratings history on Renalytix AI Plc. click here. For more ratings news on Renalytix AI Plc. click here.

Shares of Renalytix AI Plc. closed at $15.52 yesterday.

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