Wedbush Research Analysts Reduce Earnings Estimates for Avrobio Inc (NASDAQ:AVRO)

Avrobio Inc (NASDAQ:AVRO) – Investment analysts at Wedbush reduced their FY2019 EPS estimates for Avrobio in a research report issued to clients and investors on Monday, November 11th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($2.52) for the year, down from their prior forecast of ($2.46). Wedbush has a “Outperform” rating and a $32.00 price target on the stock. Wedbush also issued estimates for Avrobio’s Q4 2019 earnings at ($0.60) EPS, Q1 2020 earnings at ($0.66) EPS, Q2 2020 earnings at ($0.71) EPS, Q3 2020 earnings at ($0.76) EPS, Q4 2020 earnings at ($0.74) EPS, FY2020 earnings at ($2.86) EPS, FY2021 earnings at ($3.39) EPS, FY2022 earnings at ($3.78) EPS and FY2023 earnings at ($2.85) EPS.

A number of other brokerages also recently weighed in on AVRO. Zacks Investment Research raised shares of Avrobio from a “sell” rating to a “hold” rating in a research note on Tuesday. Nomura assumed coverage on shares of Avrobio in a research note on Monday, October 28th. They issued a “buy” rating and a $35.00 target price on the stock. ValuEngine raised shares of Avrobio from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Mizuho reaffirmed a “buy” rating and issued a $28.00 target price on shares of Avrobio in a research note on Sunday, August 11th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating on shares of Avrobio in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.35.

Shares of AVRO opened at $13.05 on Wednesday. The firm’s 50 day simple moving average is $14.42 and its 200 day simple moving average is $16.99. The company has a market capitalization of $341.68 million, a P/E ratio of -3.60 and a beta of 2.63. Avrobio has a 1-year low of $11.85 and a 1-year high of $29.41.

Avrobio (NASDAQ:AVRO) last announced its earnings results on Thursday, November 7th. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.02.

A number of hedge funds and other institutional investors have recently modified their holdings of AVRO. JPMorgan Chase & Co. grew its position in Avrobio by 18.3% during the second quarter. JPMorgan Chase & Co. now owns 1,448,130 shares of the company’s stock valued at $22,244,000 after acquiring an additional 223,675 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Avrobio by 33.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 808,235 shares of the company’s stock valued at $13,142,000 after acquiring an additional 203,484 shares during the last quarter. BlackRock Inc. grew its position in Avrobio by 16.6% during the second quarter. BlackRock Inc. now owns 1,221,741 shares of the company’s stock valued at $19,866,000 after acquiring an additional 174,121 shares during the last quarter. AlpInvest Partners B.V. bought a new position in Avrobio during the second quarter valued at approximately $2,464,000. Finally, Farallon Capital Management LLC grew its position in Avrobio by 15.1% during the second quarter. Farallon Capital Management LLC now owns 1,036,147 shares of the company’s stock valued at $16,848,000 after acquiring an additional 136,147 shares during the last quarter. Institutional investors and hedge funds own 69.05% of the company’s stock.

About Avrobio

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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