Avrobio Inc (AVRO) Receives Average Rating of “Buy” from Analysts

Avrobio Inc (NASDAQ:AVRO) has been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $39.50.

Several research firms have recently issued reports on AVRO. Wedbush began coverage on shares of Avrobio in a research report on Monday, July 16th. They set an “outperform” rating and a $38.00 price objective for the company. HC Wainwright began coverage on shares of Avrobio in a research report on Monday, September 17th. They set a “buy” rating for the company. Guggenheim began coverage on shares of Avrobio in a research report on Tuesday, October 9th. They set a “buy” rating for the company. Zacks Investment Research cut shares of Avrobio from a “hold” rating to a “sell” rating in a research report on Monday, September 17th. Finally, Morgan Stanley lifted their price target on shares of Avrobio from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, August 13th.

Large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN acquired a new position in Avrobio during the third quarter worth approximately $19,064,000. Emerald Advisers Inc. PA increased its position in shares of Avrobio by 57.9% in the third quarter. Emerald Advisers Inc. PA now owns 378,374 shares of the company’s stock worth $19,626,000 after acquiring an additional 138,714 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of Avrobio by 71.4% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 361,537 shares of the company’s stock worth $18,753,000 after acquiring an additional 150,555 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Avrobio in the third quarter worth $2,137,000. Finally, Northern Trust Corp acquired a new stake in shares of Avrobio in the second quarter worth $255,000. Hedge funds and other institutional investors own 63.32% of the company’s stock.

Avrobio stock opened at $29.78 on Tuesday. Avrobio has a 12-month low of $20.30 and a 12-month high of $53.70.

Avrobio (NASDAQ:AVRO) last released its quarterly earnings data on Thursday, August 9th. The company reported ($2.98) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($2.51). Research analysts expect that Avrobio will post -4.81 earnings per share for the current fiscal year.

About Avrobio

AVROBIO, Inc, a clinical stage gene therapy company, focuses on developing ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose. The company's gene therapies employ hematopoietic stem cells that are extracted from the patient and modified with lentiviral vectors to insert a functional copy of the gene that is defective in the target disease.

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Analyst Recommendations for Avrobio (NASDAQ:AVRO)

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