Zacks: ARMO Biosciences Inc (ARMO) Given Consensus Recommendation of “Buy” by Brokerages

Shares of ARMO Biosciences Inc (NASDAQ:ARMO) have been given an average broker rating score of 1.50 (Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and three have issued a strong buy recommendation on the company.

Brokers have set a 12-month consensus price target of $63.25 for the company and are forecasting that the company will post ($0.45) earnings per share for the current quarter, according to Zacks. Zacks has also assigned ARMO Biosciences an industry rank of 194 out of 265 based on the ratings given to its competitors.

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ARMO has been the topic of several recent analyst reports. Robert W. Baird initiated coverage on ARMO Biosciences in a report on Tuesday, February 20th. They set an “outperform” rating and a $67.00 target price on the stock. Jefferies Group initiated coverage on ARMO Biosciences in a report on Tuesday, February 20th. They issued a “buy” rating and a $61.00 price target on the stock. BMO Capital Markets initiated coverage on ARMO Biosciences in a report on Tuesday, February 20th. They issued an “outperform” rating and a $75.00 price target on the stock. Finally, Leerink Swann reaffirmed a “market perform” rating on shares of ARMO Biosciences in a report on Tuesday, February 20th.

Shares of ARMO Biosciences (NASDAQ ARMO) traded down $3.03 during trading hours on Friday, reaching $42.99. The company had a trading volume of 174,713 shares, compared to its average volume of 227,543. ARMO Biosciences has a 1 year low of $27.00 and a 1 year high of $57.19.

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About ARMO Biosciences

ARMO Biosciences, Inc is a United States-based clinical-stage biopharmaceutical company. The Company focuses on developing immunotherapies for the treatment of cancer, cardiovascular disease, fibrosis and inflammation. The Company’s platform molecule AM0010 is a pegylated form of recombinant human IL-10, which has immune stimulating effects that induce the activation, proliferation and survival of intratumoral, tumor-reactive, cytotoxic CD8+ T cells in cancer patients.

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