Wedbush Weighs in on Avrobio Inc’s FY2019 Earnings (NASDAQ:AVRO)

Avrobio Inc (NASDAQ:AVRO) – Investment analysts at Wedbush dropped their FY2019 earnings estimates for Avrobio in a report released on Monday, November 11th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($2.52) per share for the year, down from their prior forecast of ($2.46). Wedbush currently has a “Outperform” rating and a $32.00 target price on the stock. Wedbush also issued estimates for Avrobio’s Q4 2019 earnings at ($0.60) EPS, Q1 2020 earnings at ($0.66) EPS, Q2 2020 earnings at ($0.71) EPS, Q3 2020 earnings at ($0.76) EPS, Q4 2020 earnings at ($0.74) EPS, FY2020 earnings at ($2.86) EPS, FY2021 earnings at ($3.39) EPS, FY2022 earnings at ($3.78) EPS and FY2023 earnings at ($2.85) EPS.

A number of other analysts have also commented on the company. Mizuho reiterated a “buy” rating and set a $28.00 price target on shares of Avrobio in a report on Sunday, August 11th. Nomura started coverage on Avrobio in a research note on Monday, October 28th. They issued a “buy” rating and a $35.00 price target on the stock. Zacks Investment Research upgraded Avrobio from a “sell” rating to a “hold” rating in a research note on Tuesday. Janney Montgomery Scott reissued a “buy” rating on shares of Avrobio in a report on Friday, November 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Avrobio in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Avrobio currently has an average rating of “Buy” and an average target price of $27.35.

Avrobio stock opened at $13.35 on Wednesday. Avrobio has a 12 month low of $11.85 and a 12 month high of $31.00. The company has a market capitalization of $371.62 million, a PE ratio of -3.69 and a beta of 2.63. The stock has a 50-day moving average price of $14.48 and a two-hundred day moving average price of $17.02.

Avrobio (NASDAQ:AVRO) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.02.

Several large investors have recently made changes to their positions in AVRO. CWM LLC bought a new stake in shares of Avrobio during the third quarter valued at approximately $28,000. Tower Research Capital LLC TRC purchased a new stake in Avrobio in the third quarter valued at $28,000. Rhumbline Advisers boosted its holdings in Avrobio by 14.0% in the third quarter. Rhumbline Advisers now owns 20,894 shares of the company’s stock valued at $295,000 after purchasing an additional 2,568 shares during the last quarter. Virtus ETF Advisers LLC raised its position in shares of Avrobio by 81.5% in the second quarter. Virtus ETF Advisers LLC now owns 19,695 shares of the company’s stock worth $320,000 after acquiring an additional 8,845 shares during the period. Finally, Bessemer Group Inc. acquired a new position in shares of Avrobio in the second quarter worth about $336,000. Institutional investors and hedge funds own 69.05% of the company’s stock.

Avrobio Company Profile

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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Earnings History and Estimates for Avrobio (NASDAQ:AVRO)

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