Rallybio price target lowered to $15 from $18 at Evercore ISI

Evercore ISI analyst Gavin Clark-Gartner lowered the firm’s price target on Rallybio to $15 from $18 and keeps an Outperform rating on the shares. The RLYB116 healthy volunteer data was positive and generally in line with what we expected, and the PK/PD should translate to strong efficacy, the analyst tells investors in a research note. The new cash runway guidance of 3Q25 will allow them to get some data in pregnant women, which should be a value inflection point for the program, the firm contends.