Avalyn Pharma (NASDAQ:AVLN) Shares Gap Up - Here's What Happened

Key Points

• Avalyn Pharma shares jumped at Monday’s open, rising from a prior close of $26.67 to $30.74; they later traded at $29.74.
• Analyst views are mixed, but the consensus rating is “Moderate Buy” with an average price target of $60. Morgan Stanley raised its target to $57, while Raymond James initiated coverage at $60.
• Avalyn reported a quarterly loss of $0.98 per share, beating analyst expectations of a $1.03 loss by $0.05.

Avalyn Pharma Inc. (NASDAQ:AVLN - Get Free Report) shares gapped up prior to trading on Monday. The stock had previously closed at $26.67, but opened at $30.74. Avalyn Pharma shares last traded at $29.74, with a volume of 8,149 shares traded.

Wall Street Analysts Forecast Growth

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

Avalyn Pharma Price Performance

The company has a market capitalization of $1.31 billion and a P/E ratio of -1.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 33.12 and a quick ratio of 33.12. The firm has a 50 day moving average price of $29.11.

Avalyn Pharma (NASDAQ:AVLN - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.05. As a group, equities research analysts expect that Avalyn Pharma Inc. will post -3.86 earnings per share for the current year.

Institutional Investors Weigh In On Avalyn Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in AVLN. Profund Advisors LLC acquired a new stake in Avalyn Pharma in the third quarter worth about $668,000. China Universal Asset Management Co. Ltd. acquired a new position in Avalyn Pharma during the 3rd quarter valued at about $29,000. Manchester Capital Management LLC acquired a new position in Avalyn Pharma during the 3rd quarter valued at about $36,000. State Street Corp acquired a new position in Avalyn Pharma during the 2nd quarter valued at about $10,501,000. Finally, Braidwell LP bought a new position in shares of Avalyn Pharma in the 2nd quarter valued at about $26,382,000.

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.

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