Canaccord Genuity Analysts Give Aduro Biotech, Inc. (NASDAQ:ADRO) a $30.00 Price Target
Canaccord Genuity set a $30.00 price target on Aduro Biotech, Inc. (NASDAQ:ADRO) in a research report report published on Thursday morning. The firm currently has a buy rating on the biotechnology company’s stock.
A number of other brokerages have also recently commented on ADRO. BidaskClub raised Aduro Biotech from a hold rating to a buy rating in a research note on Tuesday, July 25th. Cowen and Company began coverage on Aduro Biotech in a research note on Tuesday, July 18th. They issued an outperform rating for the company. Zacks Investment Research cut Aduro Biotech from a buy rating to a hold rating in a research note on Wednesday, August 2nd. HC Wainwright set a $18.00 price target on Aduro Biotech and gave the company a buy rating in a research note on Thursday. Finally, Rodman & Renshaw began coverage on Aduro Biotech in a research note on Monday, May 1st. They issued a buy rating and a $18.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $19.00.
Aduro Biotech (ADRO) opened at 12.25 on Thursday. The firm’s market capitalization is $902.53 million. The firm has a 50 day moving average of $12.14 and a 200 day moving average of $10.93. Aduro Biotech has a one year low of $8.75 and a one year high of $16.43.
Aduro Biotech (NASDAQ:ADRO) last announced its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.02. The company had revenue of $5.90 million during the quarter, compared to the consensus estimate of $3.98 million. Aduro Biotech had a negative net margin of 609.58% and a negative return on equity of 43.92%. The business’s revenue was down 84.9% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. Equities analysts forecast that Aduro Biotech will post ($1.33) EPS for the current year.
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In related news, insider Stephen T. Isaacs sold 40,000 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $11.06, for a total transaction of $442,400.00. Following the completion of the sale, the insider now directly owns 132,093 shares of the company’s stock, valued at approximately $1,460,948.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas W. Dubensky sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $11.33, for a total value of $566,500.00. Following the sale, the insider now directly owns 51,700 shares of the company’s stock, valued at $585,761. The disclosure for this sale can be found here. Over the last three months, insiders have sold 419,205 shares of company stock valued at $4,410,591. 6.60% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Blair William & Co. IL boosted its stake in Aduro Biotech by 12.5% in the second quarter. Blair William & Co. IL now owns 213,595 shares of the biotechnology company’s stock worth $2,435,000 after buying an additional 23,805 shares during the last quarter. Legal & General Group Plc boosted its stake in Aduro Biotech by 11.2% in the second quarter. Legal & General Group Plc now owns 10,359 shares of the biotechnology company’s stock worth $118,000 after buying an additional 1,043 shares during the last quarter. Alps Advisors Inc. boosted its stake in Aduro Biotech by 9.2% in the second quarter. Alps Advisors Inc. now owns 63,106 shares of the biotechnology company’s stock worth $719,000 after buying an additional 5,310 shares during the last quarter. State of Wisconsin Investment Board acquired a new stake in Aduro Biotech during the second quarter worth about $353,000. Finally, Rhumbline Advisers boosted its stake in Aduro Biotech by 13.7% in the second quarter. Rhumbline Advisers now owns 44,889 shares of the biotechnology company’s stock worth $512,000 after buying an additional 5,410 shares during the last quarter. 35.68% of the stock is owned by institutional investors and hedge funds.
Aduro Biotech Company Profile
Aduro Biotech, Inc is an immunotherapy company, which focuses on the discovery, development and commercialization of therapies that manage the treatment of various diseases, including cancer. The Company’s product candidates from its Live, Attenuated, Double-Deleted (LADD) Listeria monocytogenes, Stimulator of Interferon Genes Pathway Activator, and B-select monoclonal antibody platforms are designed to stimulate and/or regulate innate and adaptive immune responses, either as single agents or in combination with conventional therapies, as well as other immunotherapies.
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