Avrobio Inc (AVRO) Given Consensus Recommendation of “Buy” by Analysts
Shares of Avrobio Inc (NASDAQ:AVRO) have been assigned a consensus rating of “Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $34.25.
AVRO has been the subject of several research analyst reports. ValuEngine cut Avrobio from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Leerink Swann initiated coverage on Avrobio in a report on Tuesday, November 27th. They issued a “market perform” rating for the company. Zacks Investment Research cut Avrobio from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating on shares of Avrobio in a report on Tuesday, January 15th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aisling Capital Management LP purchased a new stake in Avrobio in the 4th quarter worth approximately $12,271,000. BlackRock Inc. lifted its holdings in Avrobio by 73.4% in the 4th quarter. BlackRock Inc. now owns 651,959 shares of the company’s stock worth $10,854,000 after buying an additional 276,018 shares during the period. JPMorgan Chase & Co. lifted its holdings in Avrobio by 65.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,322 shares of the company’s stock worth $27,871,000 after buying an additional 211,847 shares during the period. Emerald Advisers LLC raised its position in shares of Avrobio by 0.6% in the 4th quarter. Emerald Advisers LLC now owns 380,636 shares of the company’s stock worth $6,338,000 after acquiring an additional 2,262 shares in the last quarter. Finally, Emerald Advisers Inc. PA raised its position in shares of Avrobio by 57.9% in the 3rd quarter. Emerald Advisers Inc. PA now owns 378,374 shares of the company’s stock worth $19,626,000 after acquiring an additional 138,714 shares in the last quarter. Institutional investors and hedge funds own 66.85% of the company’s stock.
Avrobio (NASDAQ:AVRO) last issued its earnings results on Tuesday, November 13th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.42. As a group, equities research analysts anticipate that Avrobio will post -3.18 earnings per share for the current fiscal year.
AVROBIO, Inc, a clinical stage gene therapy company, focuses on developing ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose. The company's gene therapies employ hematopoietic stem cells that are extracted from the patient and modified with lentiviral vectors to insert a functional copy of the gene that is defective in the target disease.
Further Reading: Straddles
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