Adverum Biotechnologies (ADVM) Posts Earnings Results, Misses Expectations By $0.04 EPS
Adverum Biotechnologies (NASDAQ:ADVM) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04), Fidelity Earnings reports. Adverum Biotechnologies had a negative return on equity of 30.61% and a negative net margin of 3,957.63%. The company had revenue of $0.83 million during the quarter, compared to the consensus estimate of $0.27 million.
Shares of ADVM opened at $3.76 on Friday. Adverum Biotechnologies has a 52 week low of $2.62 and a 52 week high of $8.59. The company has a market capitalization of $231.34 million, a PE ratio of -2.91 and a beta of 3.83.
A number of analysts have recently commented on the company. Piper Jaffray Companies set a $8.00 price target on Adverum Biotechnologies and gave the stock a “buy” rating in a research report on Friday, November 2nd. Chardan Capital reissued a “hold” rating and issued a $4.50 price target on shares of Adverum Biotechnologies in a research report on Friday, November 2nd. Cantor Fitzgerald cut Adverum Biotechnologies from an “overweight” rating to a “hold” rating and dropped their price target for the stock from $12.00 to $4.00 in a research report on Sunday, November 4th. BidaskClub cut Adverum Biotechnologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Finally, Zacks Investment Research cut Adverum Biotechnologies from a “buy” rating to a “hold” rating in a research report on Monday, October 15th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.85.
Adverum Biotechnologies Company Profile
Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates that target serious rare and ocular diseases. It leverages its adeno-associated virus (AAV)-based directed evolution platform to develop products. The company's pipeline of product candidates include ADVM-043 to treat alpha-1 antitrypsin deficiency, which is in Phase I/II clinical trial; and ADVM-053 for hereditary angioedema disease, which is in preclinical stage; as well as ADVM-022 and ADVM-032 for wet age-related macular degeneration disease, which are in preclinical stage.
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