RBC Capital analyst Luca Issi maintained a Hold rating on Adverum Biotechnologies (ADVM – Research Report) on November 9 and set a price target of $3.00. The company’s shares closed yesterday at $0.94.
According to TipRanks, Issi is an analyst with an average return of -26.5% and a 20.00% success rate. Issi covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, BioMarin Pharmaceutical, and Ionis Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Adverum Biotechnologies with a $4.00 average price target.
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Based on Adverum Biotechnologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $31.51 million. In comparison, last year the company had a GAAP net loss of $43.76 million
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Adverum Biotechnologies (ADVM) Company Description:
Adverum Biotechnologies, Inc. is a clinical-stage biotechnology company that engages in the development of novel gene therapies to treat patients with sight-threatening ophthalmic diseases. It focuses on treatment of wet age-related macular degeneration, alpha-1 antitrypsin deficiency, hereditary angioedema, friedreich’s ataxia, severe allergy, color vision deficiency, and juvenile x-linked retinoschisis. The company was founded by Mark S. Blumenkranz, Thomas W. Chalberg, Jr. and Steven Daniel Schwartz on July 17, 2006 and is headquartered in Menlo Park, CA.
Read More on ADVM:
- Adverum Biotechnologies Reports Third Quarter 2023 Financial Results and Pipeline Highlights
- ADVM Upcoming Earnings Report: What to Expect?
- Adverum appoints C. David Nicholson to board of directors
- Adverum Biotechnologies Appoints C. David Nicholson, Ph.D. to its Board of Directors
- Adverum announces 3-year efficacy, safety results from OPTIC extension study
