Avalyn Pharma (NASDAQ:AVLN) Hits New 1-Year High After Strong Earnings

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

The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.05.

Analysts Set New Price Targets

AVLN has been the topic of several research 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 research report on Thursday. Zacks Research raised shares of Avalyn Pharma to a “hold” rating in a research note on Wednesday, May 27th. Evercore assumed coverage on shares of Avalyn Pharma in a report on Tuesday, May 26th. They issued an “outperform” rating and a $51.00 target price on the stock. Weiss Ratings assumed coverage on shares of Avalyn Pharma in a research report on Thursday. They set a “sell (d+)” rating on the stock. Finally, Guggenheim began coverage on Avalyn Pharma in a research report on Monday, May 25th. They issued a “buy” rating and a $80.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Avalyn Pharma stock. Bank of New York Mellon Corp purchased a new position in Avalyn Pharma Inc. (NASDAQ:AVLN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Avalyn Pharma Trading Up 7.3%

The business has a 50 day moving average price of $30.15. The company has a market capitalization of $1.74 billion and a P/E ratio of -1.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.03 and a current ratio of 33.12.

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.