Avalyn Pharma (NASDAQ:AVLN) Shares Gap Up – Should You Buy?

Shares of Avalyn Pharma Inc. (NASDAQ:AVLN) gapped up prior to trading on Tuesday . The stock had previously closed at $33.57, but opened at $35.01. Avalyn Pharma shares last traded at $34.46, with a volume of 5,918 shares changing hands.

Wall Street Analyst Weigh In

AVLN has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Avalyn Pharma from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Guggenheim started coverage on shares of Avalyn Pharma in a research report on Monday, May 25th. They set a “buy” rating and a $80.00 target price on the stock. Evercore began coverage on Avalyn Pharma in a research note on Tuesday, May 26th. They issued an “outperform” rating and a $51.00 target price on the stock. Wall Street Zen raised Avalyn Pharma from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Finally, Jefferies Financial Group assumed coverage on Avalyn Pharma in a research report on Monday, May 25th. They set a “buy” rating and a $52.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Avalyn Pharma Price Performance

The business has a fifty day moving average price of $33.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 33.12 and a current ratio of 33.12. The company has a market cap of $1.54 billion and a price-to-earnings ratio of -1.52.

Avalyn Pharma (NASDAQ:AVLN) last released its earnings results on Wednesday, August 12th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.05. Analysts forecast that Avalyn Pharma Inc. will post -3.81 EPS for the current year.

Hedge Funds Weigh In On Avalyn Pharma

Institutional investors and hedge funds have recently bought and sold shares of the company. Braidwell LP bought a new stake in shares of Avalyn Pharma in the second quarter valued at $26,382,000. Montanova Capital LLC bought a new position in shares of Avalyn Pharma during the 2nd quarter worth $82,402,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Avalyn Pharma during the 2nd quarter worth $1,321,000.

About Avalyn Pharma

Avalyn Pharma is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for serious and progressive pulmonary diseases. The company is working to deliver established antifibrotic medicines directly to the lungs through proprietary inhalation technologies, with the goal of improving treatment and potentially reducing systemic exposure and related side effects.

Avalyn’s lead program, AP01, is an inhaled formulation of pirfenidone being developed for patients with idiopathic pulmonary fibrosis, a chronic lung disease characterized by progressive scarring and declining respiratory function.