Avalyn Pharma (NASDAQ:AVLN) Shares Climb 6.4% – Should You Buy?

Avalyn Pharma Inc. (NASDAQ:AVLN) shares shot up 6.4% during mid-day trading on Wednesday. The company traded as high as $28.87 and last traded at $28.84. 160,187 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 310,942 shares. The stock had previously closed at $27.10.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AVLN shares. Wall Street Zen lowered shares of Avalyn Pharma from a “hold” rating to a “sell” rating in a research report on Sunday, September 20th. Morgan Stanley lifted their price target on shares of Avalyn Pharma from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Finally, Weiss Ratings assumed coverage on Avalyn Pharma in a research note on Thursday, August 13th. They set a “sell (d+)” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Avalyn Pharma Stock Performance

The firm has a market cap of $1.28 billion and a price-to-earnings ratio of -1.26. The company has a 50-day moving average price of $33.54. The company has a debt-to-equity ratio of 0.04, a current ratio of 33.12 and a quick ratio of 33.12.

Avalyn Pharma (NASDAQ:AVLN) last posted its earnings results on Wednesday, August 12th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.05. As a group, equities analysts anticipate that Avalyn Pharma Inc. will post -3.81 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. State Street Corp acquired a new position in shares of Avalyn Pharma during the 2nd quarter worth approximately $10,501,000. Braidwell LP acquired a new stake in Avalyn Pharma during the 2nd quarter valued at $26,382,000. Montanova Capital LLC purchased a new position in Avalyn Pharma during the second quarter worth $82,402,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Avalyn Pharma in the second quarter worth $1,321,000.

Avalyn Pharma Company Profile

Avalyn Pharma is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for serious and progressive pulmonary diseases. The company is working to deliver established antifibrotic medicines directly to the lungs through proprietary inhalation technologies, with the goal of improving treatment and potentially reducing systemic exposure and related side effects.

Avalyn’s lead program, AP01, is an inhaled formulation of pirfenidone being developed for patients with idiopathic pulmonary fibrosis, a chronic lung disease characterized by progressive scarring and declining respiratory function.