In a report issued on March 23, Joseph Schwartz from Leerink Partners maintained a Buy rating on Avidity Biosciences (RNA), with a price target of $36.00. The company’s shares closed last Thursday at $21.64, close to its 52-week low of $21.35.
According to TipRanks.com, Schwartz is a 5-star analyst with an average return of 16.5% and a 47.7% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as Applied Molecular Transport, Ultragenyx Pharmaceutical, and KalVista Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Avidity Biosciences with a $36.00 average price target.
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Based on Avidity Biosciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.14 million and GAAP net loss of $16.28 million. In comparison, last year the company earned revenue of $1.45 million and had a GAAP net loss of $10.4 million.
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Avidity Biosciences Inc is a bio-technology company. The company develops novel Antibody Oligonucleotide Conjugates therapies designed to overcome the current limitations of oligonucleotide therapies in order to treat a wide range of serious diseases. Its product candidate AOC 1001, is designed to treat a rare monogenic muscle disease.
