Oppenheimer Lowers Aduro BioTech (ADRO) Price Target to $13.00
Aduro BioTech (NASDAQ:ADRO) had its price target dropped by equities research analysts at Oppenheimer from $15.00 to $13.00 in a research report issued on Wednesday. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Oppenheimer’s price target points to a potential upside of 60.49% from the company’s current price. Oppenheimer also issued estimates for Aduro BioTech’s Q1 2019 earnings at ($0.44) EPS, Q2 2019 earnings at ($0.47) EPS and Q3 2019 earnings at ($0.47) EPS.
Several other equities research analysts have also recently weighed in on ADRO. HC Wainwright reduced their price target on Aduro BioTech from $18.00 to $9.50 and set a “buy” rating on the stock in a research note on Wednesday. BidaskClub cut Aduro BioTech from a “hold” rating to a “sell” rating in a research note on Saturday, December 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of Aduro BioTech in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.64.
Shares of Aduro BioTech (ADRO) opened at $8.10 on Wednesday. Aduro BioTech has a 12 month low of $6.01 and a 12 month high of $14.05.
Aduro BioTech (NASDAQ:ADRO) last issued its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.03). The firm had revenue of $3.79 million during the quarter, compared to analysts’ expectations of $4.04 million. Aduro BioTech had a negative return on equity of 39.28% and a negative net margin of 548.92%. Aduro BioTech’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.54) earnings per share. research analysts anticipate that Aduro BioTech will post -1.28 EPS for the current fiscal year.
In other news, CEO Stephen T. Isaacs sold 40,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $10.78, for a total value of $431,200.00. Following the sale, the chief executive officer now directly owns 213,921 shares of the company’s stock, valued at $2,306,068.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Blaine Templeman sold 2,884 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 58,834 shares in the company, valued at $658,940.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,142 shares of company stock worth $2,337,732. 6.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Aduro BioTech by 283.7% in the second quarter. JPMorgan Chase & Co. now owns 372,348 shares of the biotechnology company’s stock worth $4,244,000 after acquiring an additional 275,295 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Aduro BioTech by 5.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 145,112 shares of the biotechnology company’s stock worth $1,560,000 after acquiring an additional 7,812 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Aduro BioTech by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,382,916 shares of the biotechnology company’s stock worth $25,617,000 after acquiring an additional 48,840 shares during the last quarter. PDT Partners LLC purchased a new stake in shares of Aduro BioTech in the second quarter worth $570,000. Finally, Artal Group S.A. grew its stake in shares of Aduro BioTech by 100.0% in the third quarter. Artal Group S.A. now owns 200,000 shares of the biotechnology company’s stock worth $2,130,000 after acquiring an additional 100,000 shares during the last quarter. 45.19% of the stock is currently owned by hedge funds and other institutional investors.
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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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