Anteris Technologies Global (NASDAQ:AVR) Given New $9.00 Price Target at Barclays

Key Points

• Barclays cut its price target on Anteris Technologies Global from $10 to $9, maintaining an “equal weight” rating; the target implies 62.45% upside from the prior close.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $13.75, with three Buy, one Hold, and one Sell rating.
• The company reported a quarterly loss of $0.28 per share, beating estimates, but revenue of $0.52 million fell short of the $2.75 million forecast. Major shareholder L1 Capital also bought 648,455 shares.

Anteris Technologies Global (NASDAQ:AVR - Get Free Report) had its price target cut by stock analysts at Barclays from $10.00 to $9.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's target price points to a potential upside of 62.45% from the stock's previous close.

A number of other equities analysts have also recently commented on AVR. Cantor Fitzgerald restated an "overweight" rating and set a $15.00 target price on shares of Anteris Technologies Global in a report on Wednesday, October 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Anteris Technologies Global in a research note on Wednesday, August 26th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $13.75.

Anteris Technologies Global Stock Performance

Shares of AVR traded down $0.32 during midday trading on Friday, hitting $5.54. 172,397 shares of the stock were exchanged, compared to its average volume of 1,153,564. Anteris Technologies Global has a 52-week low of $3.30 and a 52-week high of $11.06. The stock has a fifty day simple moving average of $7.03 and a 200 day simple moving average of $7.38. The firm has a market cap of $540.09 million, a P/E ratio of -3.46 and a beta of 2.02.

Anteris Technologies Global (NASDAQ:AVR - Get Free Report) last issued its quarterly earnings data on Tuesday, November 10th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.03. The business had revenue of $0.52 million during the quarter, compared to analysts' expectations of $2.75 million. Anteris Technologies Global had a negative return on equity of 57.15% and a negative net margin of 4,637.48%. As a group, equities research analysts forecast that Anteris Technologies Global will post -1.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Anteris Technologies Global news, major shareholder L1 Capital Pty Ltd purchased 648,455 shares of the company's stock in a transaction on Monday, October 5th. The stock was acquired at an average price of $7.51 per share, for a total transaction of $4,869,897.05. Following the completion of the purchase, the insider directly owned 12,778,380 shares in the company, valued at approximately $95,965,633.80. The trade was a 5.35% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 1,554,730 shares of company stock valued at $11,694,513. Company insiders own 4.50% of the company's stock.

Institutional Trading of Anteris Technologies Global

Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its holdings in Anteris Technologies Global by 18.4% in the third quarter. Russell Investments Group Ltd. now owns 30,472 shares of the company's stock valued at $237,000 after purchasing an additional 4,736 shares during the period. Cetera Investment Advisers boosted its stake in shares of Anteris Technologies Global by 64.7% in the 1st quarter. Cetera Investment Advisers now owns 16,550 shares of the company's stock valued at $92,000 after buying an additional 6,500 shares during the period. Bank of America Corp DE grew its position in shares of Anteris Technologies Global by 12.6% during the first quarter. Bank of America Corp DE now owns 68,755 shares of the company's stock worth $382,000 after buying an additional 7,688 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Anteris Technologies Global during the second quarter worth about $78,000. Finally, Bartlett & CO. Wealth Management LLC grew its position in shares of Anteris Technologies Global by 174.5% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 12,900 shares of the company's stock worth $79,000 after buying an additional 8,200 shares in the last quarter.

Anteris Technologies Global Company Profile

Anteris Technologies Global is a medical technology company focused on developing treatments for structural heart disease, particularly aortic valve conditions. Its work centers on transcatheter heart valve technology, which is designed to replace a damaged valve through a minimally invasive procedure. The company's lead product is the DurAVR transcatheter heart valve. It is made using Anteris' ADAPT tissue technology, which processes bovine pericardial tissue for use in medical devices. The valve is designed to resemble the structure and function of a healthy aortic valve.

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