Avalyn Pharma (NASDAQ:AVLN) Shares Up 6% – Still a Buy?

Avalyn Pharma Inc. (NASDAQ:AVLN)’s stock price rose 6% during mid-day trading on Thursday. The company traded as high as $26.61 and last traded at $26.61. 3,434 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 311,706 shares. The stock had previously closed at $25.11.

Analysts Set New Price Targets

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

Avalyn Pharma Stock Up 8.5%

The firm has a market capitalization of $1.21 billion and a PE ratio of -1.19. The company has a current ratio of 33.12, a quick ratio of 33.12 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $31.82.

Avalyn Pharma (NASDAQ:AVLN) last posted its earnings results on Wednesday, August 12th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.05. On average, research analysts forecast that Avalyn Pharma Inc. will post -3.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AVLN. Bank of New York Mellon Corp acquired a new position in shares of Avalyn Pharma during the second quarter valued at $1,321,000. Montanova Capital LLC acquired a new stake in Avalyn Pharma in the second quarter worth about $82,402,000. Braidwell LP bought a new stake in Avalyn Pharma during the 2nd quarter worth about $26,382,000. Finally, State Street Corp bought a new stake in Avalyn Pharma during the 2nd quarter worth about $10,501,000.

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.