Adverum Biotechnologies (NASDAQ:ADVM) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.04), Fidelity Earnings reports. The company had revenue of $0.83 million during the quarter, compared to analysts’ expectations of $0.27 million. Adverum Biotechnologies had a negative return on equity of 30.61% and a negative net margin of 3,957.63%.
Shares of NASDAQ:ADVM opened at $3.76 on Friday. Adverum Biotechnologies has a 1 year low of $2.62 and a 1 year high of $8.59. The stock has a market cap of $231.34 million, a P/E ratio of -2.91 and a beta of 3.83.
ADVM has been the topic of several analyst reports. Zacks Investment Research upgraded Adverum Biotechnologies from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a report on Monday, August 27th. Cantor Fitzgerald initiated coverage on Adverum Biotechnologies in a report on Thursday, September 20th. They set an “overweight” rating and a $12.00 price target on the stock. Piper Jaffray Companies set a $8.00 price target on Adverum Biotechnologies and gave the company a “buy” rating in a report on Friday, November 2nd. Chardan Capital restated a “hold” rating and set a $8.00 price target on shares of Adverum Biotechnologies in a report on Thursday, August 9th. Finally, BidaskClub upgraded Adverum Biotechnologies from a “buy” rating to a “strong-buy” rating in a report on Friday, August 31st. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $6.85.
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About Adverum Biotechnologies
Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates that target serious rare and ocular diseases. It leverages its adeno-associated virus (AAV)-based directed evolution platform to develop products. The company's pipeline of product candidates include ADVM-043 to treat alpha-1 antitrypsin deficiency, which is in Phase I/II clinical trial; and ADVM-053 for hereditary angioedema disease, which is in preclinical stage; as well as ADVM-022 and ADVM-032 for wet age-related macular degeneration disease, which are in preclinical stage.
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