Zacks: Analysts Anticipate Avrobio Inc (NASDAQ:AVRO) to Announce -$0.59 Earnings Per Share

Equities analysts expect Avrobio Inc (NASDAQ:AVRO) to announce earnings of ($0.59) per share for the current quarter, according to Zacks. Zero analysts have made estimates for Avrobio’s earnings, with the highest EPS estimate coming in at ($0.54) and the lowest estimate coming in at ($0.70). Avrobio posted earnings of ($0.49) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 20.4%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 12th.

On average, analysts expect that Avrobio will report full year earnings of ($2.52) per share for the current financial year, with EPS estimates ranging from ($2.81) to ($2.15). For the next fiscal year, analysts expect that the firm will post earnings of ($2.68) per share, with EPS estimates ranging from ($2.94) to ($2.16). Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Avrobio.

Avrobio (NASDAQ:AVRO) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.09.

Several equities analysts recently issued reports on the company. Wedbush restated an “outperform” rating and set a $43.00 price target on shares of Avrobio in a research note on Friday, August 9th. ValuEngine upgraded Avrobio from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of Avrobio in a research note on Friday, August 9th. Mizuho restated a “buy” rating and set a $28.00 price target on shares of Avrobio in a research note on Sunday, August 11th. Finally, Zacks Investment Research lowered Avrobio from a “buy” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $27.90.

AVRO traded down $0.22 on Friday, hitting $13.80. 108,627 shares of the stock traded hands, compared to its average volume of 287,301. Avrobio has a 52 week low of $11.85 and a 52 week high of $33.38. The firm has a market capitalization of $338.54 million, a PE ratio of -3.81 and a beta of 2.63. The business has a fifty day moving average price of $16.96 and a two-hundred day moving average price of $18.00.

Institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in Avrobio by 33.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 808,235 shares of the company’s stock valued at $13,142,000 after purchasing an additional 203,484 shares in the last quarter. Morgan Stanley boosted its holdings in Avrobio by 47.8% during the second quarter. Morgan Stanley now owns 55,777 shares of the company’s stock valued at $907,000 after purchasing an additional 18,038 shares in the last quarter. Invesco Ltd. boosted its holdings in Avrobio by 3.8% during the second quarter. Invesco Ltd. now owns 148,617 shares of the company’s stock valued at $2,416,000 after purchasing an additional 5,506 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Avrobio by 12.7% during the second quarter. Vanguard Group Inc. now owns 616,917 shares of the company’s stock valued at $10,031,000 after purchasing an additional 69,383 shares in the last quarter. Finally, Farallon Capital Management LLC boosted its holdings in Avrobio by 15.1% during the second quarter. Farallon Capital Management LLC now owns 1,036,147 shares of the company’s stock valued at $16,848,000 after purchasing an additional 136,147 shares in the last quarter. Hedge funds and other institutional investors own 68.55% of the company’s stock.

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 in the United States. Its gene therapies employ hematopoietic stem cells that are collected from patients and modified with a lentiviral vector to insert functional copies of the gene, which is defective in the target disease.

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Earnings History and Estimates for Avrobio (NASDAQ:AVRO)

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