Leerink Partners Thinks Decibel Therapeutics’ Stock is Going to Recover
Leerink Partners analyst Mani Foroohar reiterated a Buy rating on Decibel Therapeutics (DBTX) on March 30 and set a price target of $26.00. The company’s shares closed last Wednesday at $11.36, close to its 52-week low of $10.41.
According to TipRanks.com, Foroohar is a 3-star analyst with an average return of 3.6% and a 50.0% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as Adverum Biotechnologies, Rocket Pharmaceuticals, and Intellia Therapeutics.
Decibel Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $28.75, a 175.4% upside from current levels. In a report issued on March 30, BMO Capital also reiterated a Buy rating on the stock with a $30.00 price target.
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Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DBTX in relation to earlier this year.
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Decibel Therapeutics Inc is a clinical-stage biotechnology company dedicated to discovering and developing transformative treatments for hearing and balance disorders. It aims to restore and improve hearing and balance through the restoration and regeneration of functional hair cells and non-sensory support cells within the inner ear.