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JMP Securities analyst Jonathan Wolleben lowered the firm’s price target on Rallybio (RLYB) to $7 from $8 and keeps an Outperform rating on the shares as part of a broader note on Biotechnology. The firm highlighted key upcoming catalysts for its coverage universe over the next 12 months, ahead of what is shaping up to be a “busy” 2025, and noted that it still has several events expected between now and the end of the year which could provide a reason for “cheer” this holiday season.

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Read More on RLYB:

• Rallybio to begin RLYB116 confirmatory clinical PK/PD study in Q2

• Rallybio publishes RLYB212 data

• Rallybio announces initiation of Phase 2 clinical trial of RLYB212

• Rallybio price target lowered to $5 from $6 at H.C. Wainwright

• Rallybio reports Q3 EPS (26c), consensus (35c)