Avalyn Pharma (NASDAQ:AVLN) Sets New 12-Month High – Here’s Why

Avalyn Pharma Inc. (NASDAQ:AVLN) shares hit a new 52-week high during trading on Monday . The company traded as high as $32.36 and last traded at $31.72, with a volume of 77055 shares trading hands. The stock had previously closed at $31.45.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AVLN shares. Zacks Research upgraded Avalyn Pharma to a “hold” rating in a research report on Wednesday, May 27th. Morgan Stanley initiated coverage on Avalyn Pharma in a research report on Tuesday, May 26th. They issued an “overweight” rating and a $53.00 price objective for the company. Evercore started coverage on Avalyn Pharma in a report on Tuesday, May 26th. They set an “outperform” rating and a $51.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Avalyn Pharma in a research report on Monday, May 25th. They set a “buy” rating and a $52.00 target price on the stock. Finally, Guggenheim started coverage on shares of Avalyn Pharma in a research note on Monday, May 25th. They set a “buy” rating and a $80.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Avalyn Pharma has an average rating of “Buy” and an average price target of $59.00.

Avalyn Pharma Price Performance

Avalyn Pharma (NASDAQ:AVLN) last posted its earnings results on Wednesday, June 3rd. The company reported ($21.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($16.38) by ($5.45).

Insider Buying and Selling at Avalyn Pharma

In other Avalyn Pharma news, Director Jill Carroll bought 277,778 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was purchased at an average cost of $18.00 per share, with a total value of $5,000,004.00. Following the completion of the purchase, the director owned 2,186,562 shares in the company, valued at approximately $39,358,116. The trade was a 14.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Sr One Capital Management, Llc purchased 555,555 shares of the stock in a transaction on Friday, May 1st. The stock was acquired at an average price of $18.00 per share, with a total value of $9,999,990.00. Following the completion of the acquisition, the insider directly owned 2,186,562 shares of the company’s stock, valued at approximately $39,358,116. This represents a 34.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

About Avalyn Pharma

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.