Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $3.40.
A number of research analysts recently issued reports on ADVM shares. StockNews.com started coverage on shares of Adverum Biotechnologies in a research report on Thursday, October 5th. They set a “hold” rating for the company. Chardan Capital upgraded shares of Adverum Biotechnologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2.00 to $4.00 in a research report on Friday, August 11th. Truist Financial restated a “buy” rating and set a $6.00 target price on shares of Adverum Biotechnologies in a research report on Tuesday, September 5th. Finally, Mizuho started coverage on shares of Adverum Biotechnologies in a research report on Thursday. They set a “buy” rating and a $2.00 target price for the company.
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Adverum Biotechnologies Price Performance
Shares of ADVM opened at $0.93 on Friday. The firm has a market capitalization of $94.04 million, a PE ratio of -0.70 and a beta of 0.80. Adverum Biotechnologies has a 1-year low of $0.53 and a 1-year high of $2.34. The company’s fifty day moving average price is $1.34 and its 200-day moving average price is $1.41.
Adverum Biotechnologies (NASDAQ:ADVM – Get Free Report) last announced its quarterly earnings data on Thursday, August 10th. The biotechnology company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.01. As a group, research analysts anticipate that Adverum Biotechnologies will post -1.19 EPS for the current fiscal year.
About Adverum Biotechnologies
Adverum Biotechnologies, Inc, a clinical-stage company, develops gene therapy product candidates to treat ocular and rare diseases. Its lead product candidate is ixoberogene soroparvovec (ADVM-022), a single intravitreal injection gene therapy candidate used for the treatment of patients with chronic retinal, including wet age-related macular degeneration and diabetic macular edema.
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