Anteris Technologies Global Corp. (NASDAQ:AVR) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately positive: Five brokerages give Anteris Technologies Global an average “Moderate Buy” rating, with four buys and one sell. The average 12-month price target is $16.00, versus a recent share price of $8.37.
• Recent financial results missed expectations: The company reported a quarterly loss of $0.30 per share and revenue of $1.01 million, below analyst estimates of a $0.21 loss and $1.50 million in revenue. Analysts expect a full-year loss of approximately $1.21 per share.
• Ownership activity has been mixed: Major shareholder L1 Capital sold 558,633 shares, while insiders have sold more than 3 million shares over the past 90 days. Meanwhile, institutional investors including BlackRock, ADAR1 Capital, and Perceptive Advisors increased or initiated positions.

Anteris Technologies Global Corp. (NASDAQ:AVR - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the five brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $16.00.

AVR has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $15.00 price objective on shares of Anteris Technologies Global in a report on Friday, August 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Anteris Technologies Global in a research report on Wednesday, August 26th.

Insiders Place Their Bets

In related news, major shareholder L1 Capital Pty Ltd sold 558,633 shares of Anteris Technologies Global stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $8.20, for a total transaction of $4,580,790.60. Following the completion of the transaction, the insider directly owned 6,633,314 shares of the company's stock, valued at approximately $54,393,174.80. The trade was a 7.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 3,008,459 shares of company stock valued at $25,243,576. Company insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Anteris Technologies Global during the 2nd quarter valued at about $56,846,000. ADAR1 Capital Management LLC grew its position in shares of Anteris Technologies Global by 205.9% in the first quarter. ADAR1 Capital Management LLC now owns 3,789,132 shares of the company's stock valued at $21,030,000 after purchasing an additional 2,550,355 shares during the last quarter. Perceptive Advisors LLC increased its stake in shares of Anteris Technologies Global by 104.4% during the 1st quarter. Perceptive Advisors LLC now owns 3,425,476 shares of the company's stock worth $19,011,000 after purchasing an additional 1,750,000 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Anteris Technologies Global during the 2nd quarter worth approximately $33,325,850. Finally, Affinity Asset Advisors LLC raised its position in shares of Anteris Technologies Global by 87.5% during the 1st quarter. Affinity Asset Advisors LLC now owns 912,397 shares of the company's stock worth $5,064,000 after purchasing an additional 425,713 shares during the last quarter.

Anteris Technologies Global Stock Performance

Shares of NASDAQ AVR opened at $8.37 on Thursday. The firm has a market capitalization of $815.74 million, a P/E ratio of -4.29 and a beta of 1.80. Anteris Technologies Global has a one year low of $3.30 and a one year high of $11.06. The company's fifty day moving average is $8.70 and its two-hundred day moving average is $7.87.

Anteris Technologies Global (NASDAQ:AVR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.09). The company had revenue of $1.01 million for the quarter, compared to analyst estimates of $1.50 million. Anteris Technologies Global had a negative return on equity of 77.69% and a negative net margin of 4,619.27%.During the same period last year, the company earned ($0.58) earnings per share. On average, sell-side analysts forecast that Anteris Technologies Global will post -1.21 earnings per share for the current fiscal year.

About Anteris Technologies Global

Anteris Technologies Global Corp. is a medical device company focused on developing advanced technologies for structural heart disease. Its primary product candidate is the DurAVR transcatheter heart valve, designed to treat aortic valve stenosis through a minimally invasive transcatheter aortic valve replacement procedure.

The DurAVR valve is based on Anteris' ADAPT tissue-engineering technology and is manufactured as a single-piece valve intended to replicate the performance and natural hemodynamics of a healthy human aortic valve.

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