$80.20 Million in Sales Expected for Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) This Quarter

Wall Street brokerages expect Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) to post $80.20 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Atea Pharmaceuticals’ earnings. The highest sales estimate is $110.40 million and the lowest is $50.00 million. The business is scheduled to issue its next quarterly earnings report on Thursday, December 9th.

On average, analysts expect that Atea Pharmaceuticals will report full-year sales of $287.84 million for the current year, with estimates ranging from $226.40 million to $347.20 million. For the next year, analysts expect that the business will report sales of $2.65 billion, with estimates ranging from $989.22 million to $5.60 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Atea Pharmaceuticals.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its quarterly earnings data on Wednesday, August 11th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $60.39 million for the quarter, compared to analysts’ expectations of $115.99 million.

Several research firms recently commented on AVIR. Zacks Investment Research raised Atea Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 3rd. SVB Leerink initiated coverage on Atea Pharmaceuticals in a research report on Thursday, September 9th. They set an “outperform” rating and a $60.00 price objective on the stock. Finally, Morgan Stanley raised their target price on Atea Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $57.40.

A number of large investors have recently made changes to their positions in AVIR. Russell Investments Group Ltd. purchased a new position in Atea Pharmaceuticals in the second quarter worth about $41,000. Royal Bank of Canada raised its stake in shares of Atea Pharmaceuticals by 169.9% in the first quarter. Royal Bank of Canada now owns 977 shares of the company’s stock worth $60,000 after buying an additional 615 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of Atea Pharmaceuticals in the second quarter worth about $64,000. Advisory Services Network LLC bought a new position in shares of Atea Pharmaceuticals in the second quarter worth about $105,000. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Atea Pharmaceuticals by 316.8% in the second quarter. Ameritas Investment Partners Inc. now owns 5,064 shares of the company’s stock worth $109,000 after buying an additional 3,849 shares during the period. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of Atea Pharmaceuticals stock traded up $2.00 during trading on Friday, hitting $30.45. 32,329 shares of the company’s stock traded hands, compared to its average volume of 933,424. Atea Pharmaceuticals has a 1 year low of $18.72 and a 1 year high of $94.17. The stock has a market capitalization of $2.52 billion and a P/E ratio of -58.25. The business has a 50-day simple moving average of $27.87 and a 200-day simple moving average of $33.65.

Atea Pharmaceuticals Company Profile

Atea Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focused on discovering, developing, and commercializing antiviral therapeutics for patients suffering from viral infections. Its lead product candidate is AT-527, a novel antiviral agent that is in Phase II clinical trial for the treatment of patients with COVID-19.

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Earnings History and Estimates for Atea Pharmaceuticals (NASDAQ:AVIR)

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