Avalyn Pharma (NASDAQ:AVLN) Hits New 52-Week High – Should You Buy?

Avalyn Pharma Inc. (NASDAQ:AVLN)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $33.49 and last traded at $32.93, with a volume of 11152 shares trading hands. The stock had previously closed at $32.70.

Analyst Ratings Changes

Several research firms have issued reports on AVLN. Morgan Stanley began coverage on shares of Avalyn Pharma in a report on Tuesday, May 26th. They set an “overweight” rating and a $53.00 price objective on the stock. Wall Street Zen upgraded shares of Avalyn Pharma to a “hold” rating in a research report on Saturday, May 9th. Guggenheim began coverage on Avalyn Pharma in a report on Monday, May 25th. They issued a “buy” rating and a $80.00 price objective on the stock. Evercore started coverage on Avalyn Pharma in a report on Tuesday, May 26th. They set an “outperform” rating and a $51.00 target price for the company. Finally, Jefferies Financial Group started coverage on Avalyn Pharma in a research report on Monday, May 25th. They issued a “buy” rating and a $52.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $59.00.

Avalyn Pharma Stock Up 3.7%

The company has a fifty day moving average of $29.14. The company has a market cap of $1.50 billion and a price-to-earnings ratio of -1.55.

Avalyn Pharma (NASDAQ:AVLN) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($21.83) EPS for the quarter, missing the consensus estimate of ($16.38) by ($5.45). On average, equities analysts anticipate that Avalyn Pharma Inc. will post -3.45 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Avalyn Pharma stock. Bank of New York Mellon Corp acquired a new stake in Avalyn Pharma Inc. (NASDAQ:AVLN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,140 shares of the company’s stock, valued at approximately $1,321,000. Bank of New York Mellon Corp owned 0.09% of Avalyn Pharma at the end of the most recent quarter.

About Avalyn Pharma

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.