Avalyn Pharma (NASDAQ:AVLN) Shares Gap Up – Should You Buy?

Shares of Avalyn Pharma Inc. (NASDAQ:AVLN) gapped up prior to trading on Monday. The stock had previously closed at $26.67, but opened at $30.74. Avalyn Pharma shares last traded at $29.74, with a volume of 8,149 shares changing hands.

Analysts Set New Price Targets

AVLN has been the subject of several recent research reports. Wall Street Zen cut shares of Avalyn Pharma from a “hold” rating to a “sell” rating in a research report on Sunday, September 20th. Morgan Stanley raised their price target on Avalyn Pharma from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Raymond James Financial began coverage on Avalyn Pharma in a research note on Friday, October 2nd. They set an “outperform” rating and a $60.00 price objective for the company. Finally, Weiss Ratings started coverage on Avalyn Pharma in a research note on Thursday, August 13th. They set a “sell (d+)” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Avalyn Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Avalyn Pharma Trading Up 1.3%

The stock has a 50 day moving average of $29.11. The stock has a market capitalization of $1.31 billion and a price-to-earnings ratio of -1.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 33.12 and a current ratio of 33.12.

Avalyn Pharma (NASDAQ:AVLN) last issued its earnings results on Wednesday, August 12th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.05. Analysts predict that Avalyn Pharma Inc. will post -3.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Avalyn Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. Montanova Capital LLC bought a new stake in shares of Avalyn Pharma in the 2nd quarter valued at $82,402,000. Braidwell LP bought a new position in Avalyn Pharma during the second quarter worth about $26,382,000. State Street Corp acquired a new position in Avalyn Pharma in the second quarter valued at about $10,501,000. Bank of New York Mellon Corp bought a new stake in shares of Avalyn Pharma in the second quarter worth about $1,321,000. Finally, Profund Advisors LLC acquired a new stake in shares of Avalyn Pharma during the third quarter worth about $668,000.

About Avalyn Pharma

Avalyn Pharma, Inc (NASDAQ: AVLN) is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for patients with pulmonary fibrosis and other serious respiratory diseases. The company’s research is aimed at delivering established antifibrotic medicines directly to the lungs, with the potential to improve treatment effectiveness while reducing systemic exposure and associated side effects.

Avalyn’s lead product candidate is AP01, an inhaled formulation of pirfenidone being developed for idiopathic pulmonary fibrosis and progressive pulmonary fibrosis.