Avrobio Inc (AVRO) Gets a Buy Rating from Cowen & Co.

By Ryan Adsit

Cowen & Co. analyst Ritu Baral maintained a Buy rating on Avrobio Inc (AVROResearch Report) yesterday. The company’s shares closed on Friday at $19.24.

According to TipRanks.com, Baral is a 5-star analyst with an average return of 22.4% and a 47.8% success rate. Baral covers the Healthcare sector, focusing on stocks such as Milestone Pharmaceuticals Inc, Madrigal Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

Currently, the analyst consensus on Avrobio Inc is a Strong Buy with an average price target of $31.50, representing a 63.7% upside. In a report issued on August 9, H.C. Wainwright also maintained a Buy rating on the stock with a $35 price target.

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Based on Avrobio Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $17.1 million. In comparison, last year the company had a GAAP net loss of $10.51 million.

Based on the recent corporate insider activity of 9 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 AVRO in relation to earlier this year.

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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.