Avalyn Pharma (NASDAQ:AVLN) Reaches New 1-Year High – Here’s What Happened

Avalyn Pharma Inc. (NASDAQ:AVLN) hit a new 52-week high on Friday . The company traded as high as $33.49 and last traded at $32.93, with a volume of 11152 shares changing hands. The stock had previously closed at $32.70.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AVLN shares. Morgan Stanley started coverage on shares of Avalyn Pharma in a research note on Tuesday, May 26th. They issued an “overweight” rating and a $53.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Avalyn Pharma in a report on Monday, May 25th. They set a “buy” rating and a $52.00 target price for the company. Guggenheim started coverage on shares of Avalyn Pharma in a research report on Monday, May 25th. They issued a “buy” rating and a $80.00 price target on the stock. Zacks Research raised Avalyn Pharma to a “hold” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded Avalyn Pharma to a “hold” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $59.00.

Avalyn Pharma Stock Up 1.3%

The company has a 50-day moving average of $29.04. The stock has a market capitalization of $1.47 billion and a price-to-earnings ratio of -1.52.

Avalyn Pharma (NASDAQ:AVLN) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported ($21.83) EPS for the quarter, missing the consensus estimate of ($16.38) by ($5.45). Analysts anticipate that Avalyn Pharma Inc. will post -3.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Avalyn Pharma stock. Bank of New York Mellon Corp purchased a new stake in shares of Avalyn Pharma Inc. (NASDAQ:AVLN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 40,140 shares of the company’s stock, valued at approximately $1,321,000. Bank of New York Mellon Corp owned 0.09% of Avalyn Pharma at the end of the most recent quarter.

Avalyn Pharma Company Profile

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.