Canaccord Genuity Analysts Give Aduro BioTech (ADRO) a $30.00 Price Target
Aduro BioTech (NASDAQ:ADRO) received a $30.00 price target from equities researchers at Canaccord Genuity in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity’s price target would indicate a potential upside of 270.37% from the company’s current price.
Other analysts also recently issued research reports about the company. HC Wainwright reduced their price objective on Aduro BioTech from $18.00 to $9.50 and set a “buy” rating for the company in a research report on Wednesday. Oppenheimer set a $15.00 price objective on Aduro BioTech and gave the stock a “buy” rating in a research report on Monday. William Blair reiterated an “outperform” rating on shares of Aduro BioTech in a research report on Monday, October 2nd. Finally, BidaskClub downgraded Aduro BioTech from a “hold” rating to a “sell” rating in a research report on Saturday, December 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $17.64.
Shares of Aduro BioTech (ADRO) opened at $8.10 on Thursday. Aduro BioTech has a 52-week low of $6.01 and a 52-week high of $14.05.
Aduro BioTech (NASDAQ:ADRO) last announced its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.33) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.03). Aduro BioTech had a negative return on equity of 39.28% and a negative net margin of 548.92%. The firm had revenue of $3.79 million during the quarter, compared to the consensus estimate of $4.04 million. During the same quarter in the prior year, the business posted ($0.54) EPS. Aduro BioTech’s revenue was up .0% compared to the same quarter last year. research analysts predict that Aduro BioTech will post -1.28 EPS for the current fiscal year.
In related news, insider Jennifer Lew sold 6,600 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $10.61, for a total transaction of $70,026.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Blaine Templeman sold 2,884 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $11.20, for a total value of $32,300.80. Following the transaction, the vice president now owns 58,834 shares of the company’s stock, valued at approximately $658,940.80. The disclosure for this sale can be found here. Insiders have sold a total of 251,142 shares of company stock valued at $2,337,732 in the last 90 days. 6.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new position in Aduro BioTech in the 3rd quarter valued at $1,023,000. Allianz Asset Management GmbH bought a new position in Aduro BioTech in the 3rd quarter valued at $516,000. Schwab Charles Investment Management Inc. raised its position in Aduro BioTech by 5.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 174,478 shares of the biotechnology company’s stock valued at $1,859,000 after purchasing an additional 9,140 shares during the last quarter. Wells Fargo & Company MN raised its position in Aduro BioTech by 111.5% in the 3rd quarter. Wells Fargo & Company MN now owns 72,854 shares of the biotechnology company’s stock valued at $776,000 after purchasing an additional 38,415 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Aduro BioTech in the 3rd quarter valued at $69,418,000. Hedge funds and other institutional investors own 45.19% of the company’s stock.
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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