Avalanche Biotechnologies Inc. (ADVM) Shares Up 4.8%
Shares of Avalanche Biotechnologies Inc. (NASDAQ:ADVM) shot up 4.8% during mid-day trading on Friday . The company traded as high as $3.80 and last traded at $3.72, with a volume of 207,635 shares trading hands. The stock had previously closed at $3.55.
A number of brokerages recently issued reports on ADVM. Piper Jaffray Cos. set a $9.00 price target on Avalanche Biotechnologies and gave the company a “buy” rating in a report on Thursday, August 18th. Zacks Investment Research raised shares of Avalanche Biotechnologies from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Wednesday, August 17th. Jefferies Group reissued a “buy” rating and issued a $12.00 price objective on shares of Avalanche Biotechnologies in a research note on Wednesday, August 10th. Chardan Capital downgraded shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $7.50 to $5.00 in a research note on Wednesday, June 8th. Finally, Cowen and Company assumed coverage on shares of Avalanche Biotechnologies in a research note on Friday, May 27th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $7.75.
The firm’s market cap is $154.64 million. The stock has a 50-day moving average price of $3.87 and a 200 day moving average price of $4.43.
Avalanche Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.38) by $1.38. On average, analysts anticipate that Avalanche Biotechnologies Inc. will post ($2.33) EPS for the current year.
Adverum Biotechnologies, Inc, formerly Avalanche Biotechnologies, Inc, is a gene therapy company. The Company is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. The Company operates and manages its business in the segment of developing and commercializing gene therapeutics.
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