JMP Securities analyst Jonathan Wolleben reiterated a Buy rating on Rallybio (RLYB – Research Report) today and set a price target of $29.00. The company’s shares closed last Tuesday at $8.64, close to its 52-week low of $8.06.
According to TipRanks.com, Wolleben is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -17.1% and a 28.6% success rate. Wolleben covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Crinetics Pharmaceuticals, and Madrigal Pharmaceuticals.
Rallybio has an analyst consensus of Moderate Buy, with a price target consensus of $29.50, representing a 211.5% upside. In a report issued on March 7, JonesTrading also initiated coverage with a Buy rating on the stock with a $30.00 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 $10.2 million. In comparison, last year the company had a GAAP net loss of $7.16 million.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RLYB in relation to earlier this year.
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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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