Avalyn Pharma (NASDAQ:AVLN) Stock Picked Up by Analysts at Raymond James Financial

Stock analysts at Raymond James Financial started coverage on shares of Avalyn Pharma (NASDAQ:AVLN) in a report released on Friday, MarketBeat.com reports. The firm set a “moderate buy” rating and a $60.00 price target on the stock. Raymond James Financial’s price target points to a potential upside of 121.98% from the stock’s previous close.

A number of other research analysts also recently issued reports on AVLN. Wall Street Zen downgraded Avalyn Pharma from a “hold” rating to a “sell” rating in a report on Sunday, September 20th. Morgan Stanley increased their price objective on Avalyn Pharma from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Finally, Weiss Ratings started coverage on Avalyn Pharma in a report on Thursday, August 13th. They set a “sell (d+)” rating for the company. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Avalyn Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Avalyn Pharma Stock Performance

Shares of NASDAQ AVLN traded down $1.10 during mid-day trading on Friday, hitting $27.03. The stock had a trading volume of 257,047 shares, compared to its average volume of 315,015. The business’s 50 day moving average price is $33.49. Avalyn Pharma has a 1 year low of $24.15 and a 1 year high of $40.17. The company has a current ratio of 33.12, a quick ratio of 33.12 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.20 billion and a price-to-earnings ratio of -1.19.

Avalyn Pharma (NASDAQ:AVLN) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.05. Equities research analysts predict that Avalyn Pharma will post -3.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AVLN. Bank of New York Mellon Corp purchased a new stake in Avalyn Pharma in the second quarter worth $1,321,000. State Street Corp purchased a new stake in Avalyn Pharma in the second quarter worth about $10,501,000. Braidwell LP purchased a new stake in Avalyn Pharma in the second quarter worth about $26,382,000. Finally, Montanova Capital LLC bought a new position in shares of Avalyn Pharma during the second quarter valued at approximately $82,402,000.

Avalyn Pharma Company Profile

Avalyn Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for serious fibrotic lung diseases. The company’s primary focus is pulmonary fibrosis, a group of progressive conditions in which scar tissue builds up in the lungs and impairs breathing.

Avalyn’s lead product candidate is AP01, an inhaled formulation of pirfenidone being developed for the treatment of idiopathic pulmonary fibrosis and other forms of pulmonary fibrosis. By delivering therapy directly to the lungs, Avalyn aims to provide a treatment option that may improve local drug exposure while potentially reducing some of the tolerability challenges associated with oral antifibrotic therapies.

The company’s development programs are centered on advancing inhaled medicines through clinical testing and, if successful, regulatory review.