Decibel Therapeutics (NASDAQ:DBTX) PT Lowered to $18.00

Decibel Therapeutics (NASDAQ:DBTX) had its target price decreased by equities research analysts at SVB Leerink from $26.00 to $18.00 in a research note issued to investors on Friday, Analyst Price Targets reports. The brokerage currently has an “outperform” rating on the stock. SVB Leerink’s price target suggests a potential upside of 154.96% from the stock’s previous close.

Several other research firms also recently weighed in on DBTX. Zacks Investment Research downgraded Decibel Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 11th. Citigroup started coverage on Decibel Therapeutics in a research report on Monday, March 15th. They issued a “buy” rating and a $29.00 target price on the stock. Barclays started coverage on Decibel Therapeutics in a research report on Monday, March 15th. They issued an “overweight” rating and a $30.00 target price on the stock. BMO Capital Markets assumed coverage on Decibel Therapeutics in a research report on Monday, March 15th. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on Decibel Therapeutics in a report on Monday, March 15th. They issued a “buy” rating and a $29.00 price target for the company. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $27.20.

Shares of DBTX stock opened at $7.06 on Friday. The business’s 50 day simple moving average is $9.81. Decibel Therapeutics has a 12-month low of $6.18 and a 12-month high of $24.39.

Decibel Therapeutics (NASDAQ:DBTX) last issued its quarterly earnings results on Thursday, May 13th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.55).

In other Decibel Therapeutics news, major shareholder Casdin Partners Master Fund, L bought 575,000 shares of the business’s stock in a transaction on Wednesday, February 17th. The stock was bought at an average price of $18.00 per share, with a total value of $10,350,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Plc Glaxosmithkline bought 150,000 shares of the business’s stock in a transaction on Wednesday, February 17th. The shares were acquired at an average cost of $18.00 per share, with a total value of $2,700,000.00. The disclosure for this purchase can be found here.

A number of hedge funds have recently bought and sold shares of the business. Laurion Capital Management LP acquired a new stake in Decibel Therapeutics during the first quarter worth $284,000. Monashee Investment Management LLC acquired a new stake in shares of Decibel Therapeutics in the first quarter valued at $652,000. Bessemer Group Inc. acquired a new stake in shares of Decibel Therapeutics in the first quarter valued at $5,613,000. Neuberger Berman Group LLC acquired a new stake in shares of Decibel Therapeutics in the first quarter valued at $318,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Decibel Therapeutics in the first quarter valued at $138,000.

About Decibel Therapeutics

Decibel Therapeutics, Inc, a clinical-stage biotechnology company, engages in discovering and developing transformative treatments for hearing and balance disorders. Its product candidates and programs focuses on three areas, such as Gene Therapies for Congenital, Monogenic Hearing Loss designed to restore functional cells within the cochlea to address hearing disorders caused by single gene mutations; Gene Therapies for Hair Cell Regeneration designed to replace lost hair cells within the inner ear to address acquired hearing loss and balance disorders; and Otoprotection Therapeutic in clinical development to prevent hearing loss in cancer patients undergoing chemotherapy with cisplatin.

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Analyst Recommendations for Decibel Therapeutics (NASDAQ:DBTX)

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