Needham analyst Chad Messer assigned a Buy rating to Avidity Biosciences (RNA) today and set a price target of $50.00. The company’s shares closed last Wednesday at $26.09.
According to TipRanks.com, Messer is a 4-star analyst with an average return of 9.3% and a 46.7% success rate. Messer covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Phasebio Pharmaceuticals, and Aeglea Biotherapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Avidity Biosciences with a $41.00 average price target.
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Based on Avidity Biosciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.7 million and GAAP net loss of $23.84 million. In comparison, last year the company earned revenue of $1.36 million and had a GAAP net loss of $6.09 million.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RNA in relation to earlier this year.
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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.
