Zacks: Brokerages Expect Avrobio Inc (NASDAQ:AVRO) to Post -$0.59 EPS

Wall Street brokerages expect that Avrobio Inc (NASDAQ:AVRO) will announce earnings per share of ($0.59) for the current quarter, Zacks reports. Zero analysts have issued estimates for Avrobio’s earnings, with the highest EPS estimate coming in at ($0.54) and the lowest estimate coming in at ($0.70). Avrobio posted earnings per share of ($0.49) during the same quarter last year, which indicates a negative year-over-year growth rate of 20.4%. The company is expected to announce its next quarterly earnings report on Tuesday, November 12th.

According to Zacks, analysts expect that Avrobio will report full-year earnings of ($2.52) per share for the current year, with EPS estimates ranging from ($2.81) to ($2.15). For the next fiscal year, analysts anticipate that the company will post earnings of ($2.68) per share, with EPS estimates ranging from ($2.94) to ($2.16). Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Avrobio.

Avrobio (NASDAQ:AVRO) last released its earnings results on Thursday, August 8th. The company reported ($0.67) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.76) by $0.09.

A number of equities analysts recently issued reports on AVRO shares. ValuEngine raised shares of Avrobio from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded shares of Avrobio from a “buy” rating to a “hold” rating in a report on Tuesday. Cowen reiterated a “buy” rating on shares of Avrobio in a report on Monday, July 15th. Mizuho reiterated a “buy” rating and set a $28.00 target price on shares of Avrobio in a research report on Sunday, August 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $43.00 target price on shares of Avrobio in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $27.90.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in Avrobio by 10.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 50,039 shares of the company’s stock worth $814,000 after purchasing an additional 4,820 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of Avrobio in the 2nd quarter valued at $336,000. Rhumbline Advisers bought a new stake in shares of Avrobio in the 1st quarter valued at $296,000. Invesco Ltd. increased its position in shares of Avrobio by 3.8% in the 2nd quarter. Invesco Ltd. now owns 148,617 shares of the company’s stock valued at $2,416,000 after buying an additional 5,506 shares in the last quarter. Finally, Farallon Capital Management LLC increased its position in shares of Avrobio by 15.1% in the 2nd quarter. Farallon Capital Management LLC now owns 1,036,147 shares of the company’s stock valued at $16,848,000 after buying an additional 136,147 shares in the last quarter. 68.55% of the stock is currently owned by institutional investors.

NASDAQ AVRO traded down $0.22 during trading on Friday, hitting $13.80. The company had a trading volume of 108,627 shares, compared to its average volume of 287,301. The company’s fifty day moving average is $16.96 and its 200-day moving average is $18.00. The company has a market cap of $338.54 million, a price-to-earnings ratio of -3.81 and a beta of 2.63. Avrobio has a one year low of $11.85 and a one year high of $33.38.

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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