Avrobio’s (AVRO) Buy Rating Reiterated at Cowen

Avrobio (NASDAQ:AVRO)‘s stock had its “buy” rating restated by equities research analysts at Cowen in a research note issued on Tuesday, AnalystRatings.com reports.

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright set a $40.00 price target on shares of Avrobio and gave the company a “buy” rating in a report on Monday, April 22nd. Janney Montgomery Scott started coverage on shares of Avrobio in a report on Friday, April 5th. They set a “buy” rating and a $24.42 price target on the stock. Zacks Investment Research upgraded shares of Avrobio from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, January 15th. Finally, Leerink Swann cut their price target on shares of Avrobio from $27.00 to $19.00 and set a “market perform” rating on the stock in a report on Thursday, January 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $31.06.

NASDAQ:AVRO opened at $18.40 on Tuesday. Avrobio has a 52 week low of $11.85 and a 52 week high of $53.70. The company has a market cap of $461.71 million and a PE ratio of -5.08.

Avrobio (NASDAQ:AVRO) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.72) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.01). As a group, sell-side analysts forecast that Avrobio will post -2.77 EPS for the current year.

In related news, insider Geoffrey Mackay sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $27.25, for a total value of $381,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher Paige sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $25.72, for a total transaction of $257,200.00. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Morgan Stanley boosted its holdings in Avrobio by 302.9% in the first quarter. Morgan Stanley now owns 37,739 shares of the company’s stock worth $832,000 after purchasing an additional 28,371 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Avrobio by 261.6% in the first quarter. Goldman Sachs Group Inc. now owns 78,141 shares of the company’s stock worth $1,723,000 after purchasing an additional 56,532 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Avrobio by 51.3% in the first quarter. Wellington Management Group LLP now owns 717,242 shares of the company’s stock worth $15,815,000 after purchasing an additional 243,243 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Avrobio by 44.1% in the first quarter. Geode Capital Management LLC now owns 124,245 shares of the company’s stock worth $2,739,000 after purchasing an additional 38,028 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Avrobio by 35.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 44,253 shares of the company’s stock worth $976,000 after purchasing an additional 11,486 shares during the last quarter. Institutional investors own 73.82% 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 in the United States. Its gene therapies employ hematopoietic stem cells that are collected from patients and modified with a lentiviral vector to insert functional copies of the gene, which is defective in the target disease.

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Analyst Recommendations for Avrobio (NASDAQ:AVRO)

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