Avalyn Pharma (NASDAQ:AVLN) Shares Gap Up – Here’s What Happened

Avalyn Pharma Inc. (NASDAQ:AVLN)’s stock price gapped up prior to trading on Monday. The stock had previously closed at $26.67, but opened at $30.74. Avalyn Pharma shares last traded at $29.74, with a volume of 8,149 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVLN. Wall Street Zen cut shares of Avalyn Pharma from a “hold” rating to a “sell” rating in a research note on Sunday, September 20th. Weiss Ratings assumed coverage on shares of Avalyn Pharma in a research note on Thursday, August 13th. They set a “sell (d+)” rating on the stock. Morgan Stanley upped their target price on shares of Avalyn Pharma from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Finally, Raymond James Financial initiated coverage on shares of Avalyn Pharma in a research note on Friday, October 2nd. They issued an “outperform” rating and a $60.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Avalyn Pharma Price Performance

The company has a market capitalization of $1.38 billion and a PE ratio of -1.37. The business has a 50-day simple moving average of $28.94. The company has a quick ratio of 33.12, a current ratio of 33.12 and a debt-to-equity ratio of 0.04.

Avalyn Pharma (NASDAQ:AVLN) last posted its earnings results on Wednesday, August 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.05. As a group, analysts expect that Avalyn Pharma Inc. will post -3.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avalyn Pharma

A number of institutional investors have recently made changes to their positions in the company. Profund Advisors LLC acquired a new position in shares of Avalyn Pharma in the third quarter valued at approximately $668,000. China Universal Asset Management Co. Ltd. acquired a new stake in Avalyn Pharma during the 3rd quarter worth approximately $29,000. Manchester Capital Management LLC bought a new stake in Avalyn Pharma in the 3rd quarter valued at $36,000. State Street Corp bought a new stake in Avalyn Pharma in the 2nd quarter valued at $10,501,000. Finally, Braidwell LP acquired a new position in Avalyn Pharma in the 2nd quarter valued at $26,382,000.

Avalyn Pharma Company Profile

Avalyn Pharma is a clinical-stage biopharmaceutical company developing inhaled treatments for pulmonary fibrosis, including idiopathic pulmonary fibrosis and other progressive fibrotic lung diseases. Its approach is designed to deliver medicine directly to the lungs. The company’s pipeline includes AP01, an investigational inhaled formulation of pirfenidone, and AP02, an investigational inhaled formulation of nintedanib. Both medicines are based on drugs used in oral form for pulmonary fibrosis, but Avalyn’s inhaled candidates are being studied as potential alternatives to oral treatment.