Avalanche Biotechnologies Inc. (ADVM) Trading Up 3.4%
Avalanche Biotechnologies Inc. (NASDAQ:ADVM) was up 3.4% on Wednesday . The stock traded as high as $4.60 and last traded at $4.56, with a volume of 99,920 shares. The stock had previously closed at $4.41.
Several equities research analysts have recently weighed in on ADVM shares. Zacks Investment Research raised shares of Avalanche Biotechnologies from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research report on Tuesday, May 17th. Jefferies Group reissued a “buy” rating and issued a $12.00 target price on shares of Avalanche Biotechnologies in a research report on Wednesday. Chardan Capital downgraded shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $7.50 to $5.00 in a research report on Wednesday, June 8th. Finally, Cowen and Company started coverage on shares of Avalanche Biotechnologies in a research report on Friday, May 27th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Avalanche Biotechnologies has a consensus rating of “Buy” and a consensus target price of $9.06.
The firm’s 50 day moving average price is $3.43 and its 200 day moving average price is $4.55. The firm’s market capitalization is $122.09 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last posted its earnings results on Tuesday, August 9th. The company reported ($1.76) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by $1.38. On average, analysts expect that Avalanche Biotechnologies Inc. will post ($1.81) earnings per share 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.