In a report released today, Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Rallybio (RLYB – Research Report), with a price target of $9.00.
Mitchell Kapoor has given his Buy rating due to a combination of factors related to Rallybio’s strategic advancements and financial metrics. Kapoor is optimistic about the prospects of RLYB212, Rallybio’s therapeutic candidate for the prevention of Fetal and Neonatal Alloimmune Thrombocytopenia (FNAIT), a rare immune disorder that can lead to severe complications in newborns. The drug’s promising Phase 1b proof-of-concept results indicated its potential efficacy in preventing the disease, and its progression into Phase 2 trials represents a significant step forward, particularly as there is currently no FDA-approved treatment for FNAIT. The milestone of dosing the first pregnant patient in the upcoming trial could set the stage for RLYB212 to become the standard-of-care for FNAIT prevention, enhancing the company’s growth prospects.
Additionally, Kapoor’s analysis includes a positive outlook on Rallybio’s financial health, as indicated by their first quarter results for 2024. The net loss per share was smaller than anticipated, and the company’s research and development as well as selling, general, and administrative expenses were both under Kapoor’s estimates, suggesting efficient cost management. With a substantial cash reserve expected to last into mid-2026, Rallybio appears well-positioned to continue its drug development initiatives. Moreover, the potential of RLYB116, another of Rallybio’s candidates targeting a broad range of diseases, further supports the Buy rating as its Phase 1 data suggests it could progress to Phase 2 trials for generalized myasthenia gravis (gMG).
According to TipRanks, Kapoor is an analyst with an average return of -5.6% and a 45.16% success rate. Kapoor covers the Healthcare sector, focusing on stocks such as Legend Biotech, Halozyme, and Cartesian Therapeutics.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $8.00 price target.
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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.
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