In a report released today, Jonathan Wolleben from JMP Securities reiterated a Buy rating on Rallybio (RLYB – Research Report), with a price target of $29.00. The company’s shares opened today at $6.93.
Wolleben covers the Healthcare sector, focusing on stocks such as Altimmune, BioCryst, and Madrigal Pharmaceuticals. According to TipRanks, Wolleben has an average return of -13.6% and a 25.47% success rate on recommended stocks.
Currently, the analyst consensus on Rallybio is a Strong Buy with an average price target of $27.00, which is a 289.61% upside from current levels. In a report released on December 9, J.P. Morgan also initiated coverage with a Buy rating on the stock with a $21.00 price target.
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Based on Rallybio’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $18.37 million. In comparison, last year the company had a GAAP net loss of $10.2 million
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Rallybio Corp is a biopharmaceutical company committed to identifying and accelerating the development of life-transforming therapies for patients with severe and rare disorders. Its lead program is for the prevention of fetal and neonatal alloimmune thrombocytopenia, a potentially life-threatening rare disease that can cause uncontrolled bleeding in fetuses and newborns.
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