Rallybio price target lowered to $11 from $13 at Wedbush

Wedbush lowered the firm’s price target on Rallybio to $11 from $13 and keeps an Outperform rating on the shares after the company announced a new collaboration with Johnson & Johnson (JNJ), which brings in an equity investment and partnership to help build awareness for fetal and neonatal alloimmune thrombocytopenia. With both parties focused on developing therapies, this appears to be a good strategy to help identify more potential patients, the firm says.