Aduro BioTech (NASDAQ:ADRO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $8.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.58% from the company’s previous close.
According to Zacks, “Aduro has a broad, promising pipeline of novel immunotherapies under development for treatment of different forms of cancers. The company’s collaboration agreements with large pharma companies — Novartis and Johnson & Johnson — not only validate the company’s research platforms but also enhance its financial position, providing it with adequate funds. However, with no approved products in Aduro’s portfolio, the company heavily depends on funds generated from collaboration and license agreements, government grants as well as other payments for the development of its pipeline candidates. Thus, an inability to secure sufficient funding could hinder Aduro’s pipeline progress. Shares of the company have outperformed the industry in the year so far.”
Other analysts also recently issued reports about the company. BidaskClub raised Aduro BioTech from a “hold” rating to a “buy” rating in a research note on Saturday, May 12th. HC Wainwright set a $10.00 price target on Aduro BioTech and gave the company a “buy” rating in a research report on Thursday, May 3rd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 price target on shares of Aduro BioTech in a research report on Monday, March 5th. Finally, ValuEngine raised Aduro BioTech from a “strong sell” rating to a “sell” rating in a research report on Friday, June 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $14.00.
Aduro BioTech traded down $0.03, hitting $7.17, on Tuesday, MarketBeat Ratings reports. The stock had a trading volume of 9,270 shares, compared to its average volume of 583,546. The firm has a market cap of $551.11 million, a P/E ratio of -5.05 and a beta of 2.26. Aduro BioTech has a 52 week low of $5.82 and a 52 week high of $14.05.
Aduro BioTech (NASDAQ:ADRO) last announced its quarterly earnings results on Wednesday, May 2nd. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.07. The business had revenue of $6.63 million for the quarter, compared to analyst estimates of $3.88 million. Aduro BioTech had a negative return on equity of 39.00% and a negative net margin of 455.58%. equities research analysts expect that Aduro BioTech will post -1.23 earnings per share for the current year.
In related news, insider Stephen T. Isaacs sold 40,000 shares of the stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $8.68, for a total transaction of $347,200.00. Following the completion of the sale, the insider now directly owns 245,746 shares of the company’s stock, valued at $2,133,075.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 82,000 shares of company stock valued at $683,900 over the last ninety days. 5.00% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in ADRO. Spark Investment Management LLC purchased a new stake in Aduro BioTech in the fourth quarter worth $527,000. Geode Capital Management LLC boosted its holdings in shares of Aduro BioTech by 12.4% in the fourth quarter. Geode Capital Management LLC now owns 355,653 shares of the biotechnology company’s stock worth $2,667,000 after acquiring an additional 39,356 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Aduro BioTech by 140.4% in the fourth quarter. Alliancebernstein L.P. now owns 111,300 shares of the biotechnology company’s stock worth $835,000 after acquiring an additional 65,000 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Aduro BioTech by 52.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 294,007 shares of the biotechnology company’s stock worth $2,205,000 after acquiring an additional 100,979 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of Aduro BioTech in the fourth quarter worth $592,000. 45.96% of the stock is owned by institutional investors and hedge funds.
Aduro BioTech Company Profile
Aduro BioTech, Inc, an immunotherapy company, focuses on the discovery, development, and commercialization of therapies that transform the treatment of challenging diseases. The company is developing ADU-S100, which is in Phase I monotherapy study, as well as in Phase 1b combination study with an anti-PD1 immune checkpoint inhibitor; ADU-214 that is in Phase I clinical trials for the treatment of lung cancer; and ADU-741 for the treatment of prostate cancer.
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