Cowen & Co. Believes Adverum Biotechnologies (NASDAQ: ADVM) Still Has Room to Grow

By Austin Angelo

In a report released today, Phil Nadeau from Cowen & Co. maintained a Buy rating on Adverum Biotechnologies (ADVMResearch Report). The company’s shares closed yesterday at $14.90, close to its 52-week high of $14.96.

According to TipRanks.com, Nadeau is a 4-star analyst with an average return of 5.4% and a 47.5% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Phasebio Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.

Currently, the analyst consensus on Adverum Biotechnologies is a Moderate Buy with an average price target of $8.

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The company has a one-year high of $14.96 and a one-year low of $2.62. Currently, Adverum Biotechnologies has an average volume of 785.6K.

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Adverum Biotechnologies, Inc. is a clinical-stage biotechnology company that engages in the development of novel gene therapies to treat patients with sight-threatening ophthalmic diseases. It focuses on treatment of wet age-related macular degeneration, alpha-1 antitrypsin deficiency, hereditary angioedema, friedreich’s ataxia, severe allergy, color vision deficiency, and juvenile x-linked retinoschisis. The company was founded by Mark S. Blumenkranz, Thomas W. Chalberg, Jr. and Steven Daniel Schwartz on July 17, 2006 and is headquartered in Menlo Park, CA.