In a report issued on May 6, Luca Issi from RBC Capital maintained a Hold rating on Adverum Biotechnologies (ADVM), with a price target of $6.00. The company’s shares closed last Friday at $3.78, close to its 52-week low of $3.46.
According to TipRanks.com, Issi ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -19.7% and a 13.6% success rate. Issi covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Crispr Therapeutics AG, and Ionis Pharmaceuticals.
Currently, the analyst consensus on Adverum Biotechnologies is a Hold with an average price target of $10.40, which is a 185.7% upside from current levels. In a report issued on April 21, Raymond James also maintained a Hold rating on the stock.
Adverum Biotechnologies’ market cap is currently $370.2M and has a P/E ratio of -2.80. The company has a Price to Book ratio of 0.85.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADVM in relation to earlier this year.
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Adverum Biotechnologies, Inc. is a clinical-stage biotechnology company that engages in the development of novel gene therapies to treat patients with sight-threatening ophthalmic diseases. It focuses on treatment of wet age-related macular degeneration, alpha-1 antitrypsin deficiency, hereditary angioedema, friedreich’s ataxia, severe allergy, color vision deficiency, and juvenile x-linked retinoschisis. The company was founded by Mark S. Blumenkranz, Thomas W. Chalberg, Jr. and Steven Daniel Schwartz on July 17, 2006 and is headquartered in Menlo Park, CA.