Avalyn Pharma (NASDAQ:AVLN) Hits New 1-Year High Following Better-Than-Expected Earnings

Avalyn Pharma Inc. (NASDAQ:AVLN) hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $39.99 and last traded at $37.38, with a volume of 378235 shares traded. The stock had previously closed at $35.46.

The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.05.

Analyst Upgrades and Downgrades

AVLN has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Avalyn Pharma from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday. Guggenheim started coverage on shares of Avalyn Pharma in a research report on Monday, May 25th. They issued a “buy” rating and a $80.00 target price for the company. Evercore started coverage on shares of Avalyn Pharma in a research report on Tuesday, May 26th. They set an “outperform” rating and a $51.00 price target on the stock. Zacks Research raised shares of Avalyn Pharma to a “hold” rating in a research note on Wednesday, May 27th. Finally, Jefferies Financial Group assumed coverage on shares of Avalyn Pharma in a report on Monday, May 25th. They issued a “buy” rating and a $52.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $60.00.

Institutional Trading of Avalyn Pharma

A hedge fund recently bought a new stake in Avalyn Pharma stock. Bank of New York Mellon Corp purchased a new position in shares of Avalyn Pharma Inc. (NASDAQ:AVLN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 40,140 shares of the company’s stock, valued at approximately $1,321,000. Bank of New York Mellon Corp owned 0.09% of Avalyn Pharma as of its most recent SEC filing.

Avalyn Pharma Trading Down 2.1%

The firm’s 50-day moving average price is $29.90. The stock has a market capitalization of $1.62 billion and a PE ratio of -1.68.

Avalyn Pharma Company Profile

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.