JMP Securities analyst Jonathan Wolleben reiterated a Buy rating on Rallybio (RLYB – Research Report) yesterday and set a price target of $8.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors indicating Rallybio’s strong position in the development of treatments for Fetal and Neonatal Alloimmune Thrombocytopenia (FNAIT). The collaboration with Johnson & Johnson (JNJ) is a significant endorsement of Rallybio’s leadership in this space, as it pairs Rallybio’s RLYB212 program with JNJ’s complementary initiatives in FNAIT. He views the equity investment from JNJ and potential for future payments as a positive for Rallybio, enhancing the company’s visibility while supporting its ongoing research efforts.
Moreover, the collaboration is expected to benefit Rallybio by providing access to a diverse and substantial patient population through its natural history study, aimed at better understanding alloimmunization rates. With JNJ on board, Rallybio’s market opportunity appears larger, as their product RLYB212 is being developed as a prophylactic solution, thus targeting prevention rather than treatment post-alloimmunization. The anticipation of Rallybio entering Phase 2 trials for RLYB212 in the latter half of 2024 and the potential data release in mid-2025 are seen as key milestones that could significantly de-risk the program and validate the company’s approach.
According to TipRanks, Wolleben is a 4-star analyst with an average return of 10.5% and a 42.77% success rate. Wolleben covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, DBV Technologies SA – American, and Crinetics Pharmaceuticals.
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Rallybio (RLYB) Company Description:
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.
