Zacks: Brokerages Anticipate Aduro BioTech Inc (NASDAQ:ADRO) to Announce -$0.23 Earnings Per Share

Brokerages predict that Aduro BioTech Inc (NASDAQ:ADRO) will post earnings of ($0.23) per share for the current quarter, according to Zacks. Four analysts have made estimates for Aduro BioTech’s earnings, with estimates ranging from ($0.25) to ($0.19). Aduro BioTech reported earnings of ($0.29) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.7%. The firm is expected to report its next quarterly earnings report on Tuesday, October 29th.

On average, analysts expect that Aduro BioTech will report full-year earnings of ($0.95) per share for the current year, with EPS estimates ranging from ($1.03) to ($0.86). For the next fiscal year, analysts expect that the firm will report earnings of ($0.84) per share, with EPS estimates ranging from ($1.08) to ($0.53). Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Aduro BioTech.

Aduro BioTech (NASDAQ:ADRO) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.05). The business had revenue of $4.89 million during the quarter, compared to the consensus estimate of $4.56 million. Aduro BioTech had a negative net margin of 624.51% and a negative return on equity of 68.69%.



A number of research analysts recently issued reports on ADRO shares. CIBC reiterated a “market perform” rating on shares of Aduro BioTech in a report on Monday, June 3rd. Oppenheimer lowered shares of Aduro BioTech from an “outperform” rating to a “market perform” rating in a report on Monday, June 3rd. Cowen reiterated a “buy” rating on shares of Aduro BioTech in a report on Friday, August 2nd. Finally, ValuEngine upgraded shares of Aduro BioTech from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $8.01.

A number of hedge funds and other institutional investors have recently modified their holdings of ADRO. JPMorgan Chase & Co. raised its holdings in Aduro BioTech by 196.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,414,065 shares of the biotechnology company’s stock valued at $2,474,000 after buying an additional 937,166 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Aduro BioTech by 56.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,812,200 shares of the biotechnology company’s stock worth $2,791,000 after purchasing an additional 653,600 shares during the last quarter. AQR Capital Management LLC raised its holdings in Aduro BioTech by 75.8% during the 2nd quarter. AQR Capital Management LLC now owns 701,608 shares of the biotechnology company’s stock worth $1,080,000 after purchasing an additional 302,573 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Aduro BioTech by 6.2% during the 2nd quarter. Baillie Gifford & Co. now owns 4,070,724 shares of the biotechnology company’s stock worth $6,269,000 after purchasing an additional 239,298 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Aduro BioTech by 4.4% during the 2nd quarter. BlackRock Inc. now owns 5,225,866 shares of the biotechnology company’s stock worth $8,046,000 after purchasing an additional 220,010 shares during the last quarter. Institutional investors and hedge funds own 41.69% of the company’s stock.

NASDAQ ADRO traded down $0.01 during trading hours on Friday, reaching $1.34. The company’s stock had a trading volume of 332,400 shares, compared to its average volume of 524,720. The firm has a fifty day simple moving average of $1.31 and a 200-day simple moving average of $2.60. The stock has a market cap of $108.19 million, a P/E ratio of -1.16 and a beta of 1.48. Aduro BioTech has a 52 week low of $1.15 and a 52 week high of $7.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 8.45 and a quick ratio of 8.45.

About Aduro BioTech

Aduro BioTech, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies to harness the body's natural immune system for the treatment of patients with challenging diseases. The company is developing ADU-S100, which is in Phase I dose escalation and dose expansion clinical trial and Phase Ib dose escalation and dose expansion clinical trial in combination with spartalizumab to treat patients with advanced, metastatic treatment-refractory solid tumors; Phase I clinical trial in combination with ipilimumab for the treatment of relapsed and refractory melanoma; and Phase Ib/II clinical trial in combination with an approved anti-PD-1 antibody in patients with squamous cell carcinoma of the head and neck.

Read More: What are the benefits of investing in REITs?

Get a free copy of the Zacks research report on Aduro BioTech (ADRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Aduro BioTech (NASDAQ:ADRO)

Receive News & Ratings for Aduro BioTech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aduro BioTech and related companies with MarketBeat.com's FREE daily email newsletter.