Avalyn Pharma (NASDAQ:AVLN) Trading Up 6.8% – Time to Buy?

Avalyn Pharma Inc. (NASDAQ:AVLN) rose 6.8% on Monday . The company traded as high as $36.16 and last traded at $35.86. 248,034 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 312,304 shares. The stock had previously closed at $33.57.

Wall Street Analyst Weigh In

AVLN has been the topic of a number of analyst reports. Evercore initiated coverage on Avalyn Pharma in a research report on Tuesday, May 26th. They set an “outperform” rating and a $51.00 price target on the stock. Weiss Ratings initiated coverage on shares of Avalyn Pharma in a research report on Thursday, August 13th. They issued a “sell (d+)” rating for the company. Guggenheim began coverage on Avalyn Pharma in a report on Monday, May 25th. They issued a “buy” rating and a $80.00 target price on the stock. Morgan Stanley lifted their price target on Avalyn Pharma from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen upgraded Avalyn Pharma from a “sell” rating to a “hold” rating in a research report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Avalyn Pharma Stock Performance

The company has a quick ratio of 33.12, a current ratio of 33.12 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $32.79. The firm has a market capitalization of $1.56 billion and a PE ratio of -1.54.

Avalyn Pharma (NASDAQ:AVLN) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.05. As a group, analysts expect that Avalyn Pharma Inc. will post -3.81 earnings per share for the current fiscal year.

Institutional Trading of Avalyn Pharma

Several hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System acquired a new position in shares of Avalyn Pharma during the second quarter valued at about $236,000. Bank of New York Mellon Corp bought a new stake in Avalyn Pharma during the second quarter worth $1,321,000. Braidwell LP purchased a new stake in shares of Avalyn Pharma in the second quarter valued at about $26,382,000. Finally, Montanova Capital LLC bought a new position in shares of Avalyn Pharma during the 2nd quarter worth approximately $82,402,000.

Avalyn Pharma Company Profile

Avalyn Pharma is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for serious and progressive pulmonary diseases. The company is working to deliver established antifibrotic medicines directly to the lungs through proprietary inhalation technologies, with the goal of improving treatment and potentially reducing systemic exposure and related side effects.

Avalyn’s lead program, AP01, is an inhaled formulation of pirfenidone being developed for patients with idiopathic pulmonary fibrosis, a chronic lung disease characterized by progressive scarring and declining respiratory function.