Avalanche Biotechnologies Inc. (ADVM) Trading Up 4.8%
Avalanche Biotechnologies Inc. (NASDAQ:ADVM) shares were up 4.8% 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 research analysts recently weighed in on ADVM shares. Zacks Investment Research raised shares of Avalanche Biotechnologies from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Chardan Capital downgraded shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $7.50 to $5.00 in a research report on Wednesday, June 8th. Piper Jaffray Cos. set a $9.00 target price on shares of Avalanche Biotechnologies and gave the company a “buy” rating in a research report on Thursday, August 18th. Jefferies Group reaffirmed a “buy” rating and issued a $12.00 target price on shares of Avalanche Biotechnologies in a research report on Wednesday, August 10th. 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $7.75.
The firm’s 50-day moving average price is $3.85 and its 200-day moving average price is $4.44. The firm’s market capitalization is $154.64 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last posted its earnings results on Tuesday, August 9th. The company reported ($1.76) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by $1.38. On average, analysts forecast 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.