Avalyn Pharma (NASDAQ:AVLN) Trading Up 8.2% Following Better-Than-Expected Earnings

Shares of Avalyn Pharma Inc. (NASDAQ:AVLN) traded up 8.2% during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $39.04 and last traded at $38.35. 87,139 shares traded hands during trading, a decline of 75% from the average session volume of 347,286 shares. The stock had previously closed at $35.46.

The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.05.

Analysts Set New Price Targets

AVLN has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Avalyn Pharma to a “hold” rating in a report on Saturday, May 9th. Evercore started coverage on Avalyn Pharma in a research note on Tuesday, May 26th. They issued an “outperform” rating and a $51.00 price objective for the company. Guggenheim assumed coverage on shares of Avalyn Pharma in a research note on Monday, May 25th. They issued a “buy” rating and a $80.00 target price for the company. Zacks Research upgraded Avalyn Pharma to a “hold” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley initiated coverage on Avalyn Pharma in a report on Tuesday, May 26th. They issued an “overweight” rating and a $53.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $59.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Avalyn Pharma stock. Bank of New York Mellon Corp purchased a new stake in Avalyn Pharma Inc. (NASDAQ:AVLN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 40,140 shares of the company’s stock, valued at approximately $1,321,000. Bank of New York Mellon Corp owned approximately 0.09% of Avalyn Pharma as of its most recent SEC filing.

Avalyn Pharma Trading Up 7.4%

The company has a fifty day moving average price of $29.49. The company has a market capitalization of $1.69 billion and a PE ratio of -1.74.

Avalyn Pharma Company Profile

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.