Rubius Therapeutics’ target price
On September 14, Rubius Therapeutics (RUBY) announced in a press release that it would be included in the Russell 2000 and Russell 3000 indexes effective September 21. On September 21, the stock closed at $22.82, 8.72% higher than its closing price on the previous day.
On July 23, in a press release, Rubius Therapeutics announced the closing of its IPO of 12,055,450 common shares at $23.00 per share.
The 12-month consensus recommendation for Rubius Therapeutics as of September 23 is a “strong buy.” The 12-month consensus target price for Rubius Therapeutics is $35.67, 56.31% higher than the company’s last closing price on September 21. The company’s last closing price of $22.82 is 16.01% higher than its 52-week low of $19.67 and 30.87% lower than its 52-week high of $33.01.
Of the four analysts covering Rubius Therapeutics in September, two have rated the company as a “strong buy,” and two have rated it as a “buy.”
The above diagram highlights the broad research pipeline of Rubius Therapeutics based on the RED platform across multiple indications in the oncology, immunology, and rare disease spaces.
Performance in the second quarter
Rubius Therapeutics had cash and cash equivalents of $181.73 million on its balance sheet on June 30. The company reported research and development expenses of $11.96 million and general and administrative expenses of $16.28 million in the quarter. Rubius Therapeutics also reported net income of -$29.10 million in the quarter.
Analysts expect Rubius Therapeutics to report adjusted diluted EPS of -$1.70, -$1.50, and -$1.85 in 2018, 2019, and 2020, respectively.
In the next article, we’ll discuss growth trends for Endocyte in greater detail.