Avrobio (AVRO) Receives a Buy from H.C. Wainwright

By Jason Carr

In a report released today, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on Avrobio (AVROResearch Report), with a price target of $35.00. The company’s shares closed last Monday at $14.55, close to its 52-week low of $11.85.

According to TipRanks.com, Chattopadhyay is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.5% and a 34.7% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Precision BioSciences, and Audentes Therapeutics.

Currently, the analyst consensus on Avrobio is a Strong Buy with an average price target of $31.50, which is an 116.8% upside from current levels. In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock.

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Based on Avrobio’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $16.06 million. In comparison, last year the company had a GAAP net loss of $11.59 million.

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Avrobio, Inc. engages in the development of lentiviral-based gene therapies. It focuses on gene therapy for fabry, gaucher, pompe disease, and cystinosis. These gene therapies, on which the company was founded, were developed by Dr. Jeffrey Medin and Dr. Christopher Paige at the University Health Network.