In a report made public by Piper Jaffray on Friday, 14 August, Avalanche Biotechnologies (NASDAQ:AAVL) had its PT decreased to $25.00. SunTrust cut shares of Avalanche Biotechnologies from a buy rating to a neutral rating and lowered their target price for the stock from $60.00 to $25.00 in a report on Tuesday, June 16th. The New York-based fund Green Owl Capital Management Llc is also positive about the stock, possessing 421,133 shares or 1.37% of their fund’s portfolio. The company has a market cap of $366.70 million and a P/E ratio of 0. Jefferies Group reiterated a “buy” rating and issued a $51.00 price objective on shares of Avalanche Biotechnologies in a research note on Saturday, May 23rd. In comparing the stock’s current level to its extended history, the stock is trading -76.78% away from its 52-week high of 62.48 and +5.53% away from the stock’s low point over the past 52 weeks, which was 13.75.
In other Avalanche Biotechnologies news, Director Steven Daniel Schwartz sold 16,875 shares of the business’s stock in a transaction dated Friday, May 22nd. The 50-day moving average is $15.47 and the 200 day moving average is recorded at $31.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Zacks upgraded Avalanche Biotechnologies from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Wednesday, July 1st. This is the average of the individual targets from the covering analysts polled by Thomson Reuters First Call.
After questionable results from a mid-stage trial of its experimental treatment for a blinding eye disease, gene therapy company Avalanche Biotechnologies Inc. said it won’t start another Phase II study of the drug. The stock was sold at an average price of $38.64, for a total value of $46,058.88. The disclosure for this sale can be found here. When calculating in the EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at N/A. Investors looking further ahead, will note that the Price to next year’s EPS is N/A. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. (Nasdaq:AAVL), a biopharmaceutical company committed to improving or preserving the sight of people suffering from serious eye diseases with an unmet medical need, today reported financial results for the second quarter ended June 30, 2015. Avalanche has leveraged its next generation gene therapy platform, the Ocular BioFactory, to create a robust pipeline of product candidates.
Instead, Avalanche will conduct additional preclinical studies to investigate optimal dose and delivery of AVA-101 and AVA-201 versus standard of care anti-VEGF protein therapy to select the best gene therapy product candidate for wet AMD to advance back into the clinic. In addition, Avalanche’s AVA-311 is being developed for the treatment of Juvenile X-linked Retinoschisis (XLRS).