In a report released today, Gbola Amusa from Chardan Capital reiterated a Hold rating on Adverum Biotechnologies (NASDAQ: ADVM), with a price target of $8. The company’s shares closed yesterday at $4.75.
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 24.8% and a 53.4% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Applied Genetic Technologies.
Adverum Biotechnologies has an analyst consensus of Moderate Buy, with a price target consensus of $11.
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Based on Adverum Biotechnologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $17.2 million. In comparison, last year the company had a GAAP net loss of $11.43 million.
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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.
