Avrobio (AVRO) Coverage Initiated at Leerink Swann

Leerink Swann started coverage on shares of Avrobio (NASDAQ:AVRO) in a report published on Tuesday morning, Marketbeat reports. The brokerage issued a market perform rating on the stock. Leerink Swann also issued estimates for Avrobio’s Q4 2018 earnings at ($0.61) EPS, FY2018 earnings at ($3.35) EPS, Q1 2019 earnings at ($0.63) EPS, Q2 2019 earnings at ($0.67) EPS, Q3 2019 earnings at ($0.71) EPS, Q4 2019 earnings at ($0.75) EPS, FY2019 earnings at ($2.74) EPS and FY2020 earnings at ($2.84) EPS.

Other analysts have also recently issued research reports about the stock. HC Wainwright assumed coverage on shares of Avrobio in a report on Monday, September 17th. They issued a buy rating on the stock. Guggenheim assumed coverage on shares of Avrobio in a report on Tuesday, October 9th. They issued a buy rating on the stock. Zacks Investment Research cut shares of Avrobio from a hold rating to a sell rating in a report on Monday, September 17th. Morgan Stanley raised their target price on shares of Avrobio from $37.00 to $40.00 and gave the company an overweight rating in a report on Monday, August 13th. Finally, ValuEngine cut shares of Avrobio from a buy rating to a hold rating in a report on Wednesday, October 24th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Avrobio has an average rating of Buy and an average target price of $39.50.

Shares of AVRO opened at $26.79 on Tuesday. Avrobio has a 1 year low of $20.30 and a 1 year high of $53.70.

Avrobio (NASDAQ:AVRO) last issued its quarterly earnings results on Tuesday, November 13th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.91) by $0.42. As a group, research analysts expect that Avrobio will post -3.13 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in AVRO. SV Health Investors LLC purchased a new position in Avrobio in the second quarter valued at approximately $78,141,000. FMR LLC purchased a new position in Avrobio in the second quarter valued at approximately $14,280,000. Citadel Advisors LLC purchased a new position in Avrobio in the second quarter valued at approximately $12,422,000. Wells Fargo & Company MN purchased a new position in Avrobio in the third quarter valued at approximately $19,064,000. Finally, BlackRock Inc. increased its stake in Avrobio by 4,239.1% in the third quarter. BlackRock Inc. now owns 375,941 shares of the company’s stock valued at $19,500,000 after purchasing an additional 367,277 shares during the last quarter. Institutional investors own 67.57% of the company’s stock.

About Avrobio

AVROBIO, Inc, a clinical stage gene therapy company, focuses on developing ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose. The company's gene therapies employ hematopoietic stem cells that are extracted from the patient and modified with lentiviral vectors to insert a functional copy of the gene that is defective in the target disease.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

Analyst Recommendations for Avrobio (NASDAQ:AVRO)

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