Chardan Capital analyst Gbola Amusa reiterated a Buy rating on Adverum Biotechnologies (ADVM) today. The company’s shares closed last Monday at $11.78.
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 30.5% and a 51.2% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Axovant Gene Therapies, Taysha Gene Therapies, and Catalyst Biosciences.
Currently, the analyst consensus on Adverum Biotechnologies is a Strong Buy with an average price target of $27.00.
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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 $29.2 million. In comparison, last year the company had a GAAP net loss of $14.95 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADVM in relation to earlier this year.
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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.