Evercore ISI analyst Joshua Schimmer maintained a Buy rating on Rallybio (RLYB – Research Report) today and set a price target of $36.00. The company’s shares closed last Wednesday at $8.74, close to its 52-week low of $8.06.
According to TipRanks.com, Schimmer is a 4-star analyst with an average return of 7.0% and a 47.0% success rate. Schimmer covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical, Rocket Pharmaceuticals, and Aeglea Biotherapeutics.
Currently, the analyst consensus on Rallybio is a Strong Buy with an average price target of $31.67, representing a 262.4% 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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The company has a one-year high of $25.78 and a one-year low of $8.06. Currently, Rallybio has an average volume of 83.05K.
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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