BMO Capital Thinks Decibel Therapeutics’ Stock is Going to Recover

In a report released today, Matthew Luchini from BMO Capital assigned a Buy rating to Decibel Therapeutics (DBTXResearch Report), with a price target of $27.00. The company’s shares closed last Friday at $7.06, close to its 52-week low of $6.18.

According to TipRanks.com, Luchini is a 3-star analyst with an average return of 7.2% and a 41.7% success rate. Luchini covers the Healthcare sector, focusing on stocks such as Entasis Therapeutics Holdings, Applied Genetic Technologies, and Madrigal Pharmaceuticals.

Decibel Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $26.00, representing a 303.1% upside. In a report released today, Leerink Partners also maintained a Buy rating on the stock with a $18.00 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.