What is Leerink Partnrs' Estimate for RNA FY2027 Earnings?

Key Points

• Leerink Partnrs estimates a significant decline in Avidity Biosciences' FY2027 earnings, projecting a loss of ($4.01) per share, compared to the current consensus estimate of ($2.89) per share.
• Avidity Biosciences recently reported earnings of ($0.90) per share for the last quarter, which was below expectations, and reported revenue significantly lower than anticipated at $1.60 million.
• Seventeen analysts maintain a **"Buy"** rating on Avidity Biosciences, with a consensus price target of $67.00 per share, despite recent stock price fluctuations and insider selling activities.

Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report) - Equities research analysts at Leerink Partnrs issued their FY2027 earnings per share (EPS) estimates for Avidity Biosciences in a research note issued to investors on Thursday, August 7th. Leerink Partnrs analyst J. Schwartz expects that the biotechnology company will post earnings of ($4.01) per share for the year. The consensus estimate for Avidity Biosciences' current full-year earnings is ($2.89) per share.

Avidity Biosciences (NASDAQ:RNA - Get Free Report) last announced its earnings results on Thursday, May 8th. The biotechnology company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.02). The company had revenue of $1.60 million for the quarter, compared to analysts' expectations of $2.63 million. Avidity Biosciences had a negative net margin of 4,136.00% and a negative return on equity of 26.96%.

A number of other analysts have also commented on RNA. The Goldman Sachs Group upgraded Avidity Biosciences to a "buy" rating and set a $55.00 price target on the stock in a report on Thursday, July 10th. JPMorgan Chase & Co. lifted their price target on Avidity Biosciences from $57.00 to $59.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. HC Wainwright dropped their price target on Avidity Biosciences from $72.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Raymond James Financial started coverage on Avidity Biosciences in a report on Wednesday, June 11th. They set a "strong-buy" rating and a $65.00 price target on the stock. Finally, Chardan Capital reiterated a "buy" rating and set a $75.00 price target on shares of Avidity Biosciences in a report on Friday. Seventeen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Avidity Biosciences presently has a consensus rating of "Buy" and a consensus target price of $67.00.

Avidity Biosciences Stock Down 2.6%

Shares of NASDAQ:RNA opened at $46.29 on Monday. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of -15.43 and a beta of 0.95. Avidity Biosciences has a 12-month low of $21.51 and a 12-month high of $56.00. The business's 50 day moving average is $33.25 and its 200 day moving average is $31.28.

Insider Buying and Selling at Avidity Biosciences

In related news, insider John B. Moriarty sold 2,245 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $36.21, for a total transaction of $81,291.45. Following the sale, the insider owned 47,755 shares of the company's stock, valued at approximately $1,729,208.55. This represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Troy Edward Wilson sold 65,554 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $45.00, for a total value of $2,949,930.00. Following the sale, the director directly owned 17,776 shares in the company, valued at $799,920. This trade represents a 78.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 443,826 shares of company stock worth $19,597,686 in the last three months. 3.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Avidity Biosciences

A number of institutional investors have recently added to or reduced their stakes in RNA. Amalgamated Bank grew its position in Avidity Biosciences by 12.0% during the first quarter. Amalgamated Bank now owns 3,915 shares of the biotechnology company's stock worth $116,000 after buying an additional 418 shares in the last quarter. Corebridge Financial Inc. grew its position in Avidity Biosciences by 0.8% during the first quarter. Corebridge Financial Inc. now owns 55,643 shares of the biotechnology company's stock worth $1,643,000 after buying an additional 463 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Avidity Biosciences by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,135 shares of the biotechnology company's stock worth $181,000 after buying an additional 514 shares in the last quarter. Parallel Advisors LLC grew its position in Avidity Biosciences by 43.3% during the first quarter. Parallel Advisors LLC now owns 1,705 shares of the biotechnology company's stock worth $50,000 after buying an additional 515 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in Avidity Biosciences by 8.0% during the fourth quarter. Quantinno Capital Management LP now owns 7,026 shares of the biotechnology company's stock worth $204,000 after buying an additional 518 shares in the last quarter.

Avidity Biosciences Company Profile

Avidity Biosciences, Inc, a biopharmaceutical company, engages in the delivery of RNA therapeutics. It develops antibody oligonucleotide conjugates (AOC) that are designed to treat diseases previously untreatable with RNA therapeutics. The company's lead product candidate AOC 1001 for the treatment of myotonic dystrophy type 1, a rare monogenic muscle disease that is in phase 1/2 clinical trial.

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