Decibel Therapeutics, Inc. (NASDAQ:DBTX) Given Average Recommendation of “Buy” by Analysts

Shares of Decibel Therapeutics, Inc. (NASDAQ:DBTX – Get Rating) have earned a consensus rating of “Buy” from the eight research firms that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $17.06.

A number of research analysts recently commented on the company. Barclays lowered their price target on Decibel Therapeutics from $30.00 to $7.00 and set an “overweight” rating on the stock in a report on Monday, March 21st. Zacks Investment Research raised Decibel Therapeutics from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a report on Tuesday, April 12th.

Shares of DBTX stock traded up $0.01 during trading hours on Tuesday, reaching $2.19. 500 shares of the company traded hands, compared to its average volume of 62,390. Decibel Therapeutics has a 12-month low of $2.00 and a 12-month high of $10.04. The company has a market cap of $54.65 million, a P/E ratio of -0.81 and a beta of -0.48. The firm has a 50-day moving average price of $2.94 and a 200 day moving average price of $4.89.

Decibel Therapeutics (NASDAQ:DBTX – Get Rating) last posted its quarterly earnings results on Friday, March 18th. The company reported ($0.49) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.08). Sell-side analysts expect that Decibel Therapeutics will post -1.53 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Decibel Therapeutics during the 4th quarter worth approximately $47,000. Bailard Inc. purchased a new stake in shares of Decibel Therapeutics during the 1st quarter worth approximately $60,000. Marquette Asset Management LLC increased its position in shares of Decibel Therapeutics by 39.2% during the 1st quarter. Marquette Asset Management LLC now owns 25,704 shares of the company’s stock valued at $78,000 after purchasing an additional 7,232 shares during the last quarter. Morgan Stanley bought a new position in shares of Decibel Therapeutics during the 1st quarter valued at approximately $84,000. Finally, Renaissance Technologies LLC bought a new position in shares of Decibel Therapeutics during the 4th quarter valued at approximately $237,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Decibel Therapeutics Company Profile (Get Rating)

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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