|Bid||18.01 x 800|
|Ask||18.05 x 800|
|Day's Range||17.53 - 18.55|
|52 Week Range||11.85 - 53.70|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 11, 2019 - Nov 15, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||38.13|
AVROBIO, Inc. (AVRO) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front.
AVROBIO, Inc. a Phase 2 clinical-stage gene therapy company, today announced that members of its senior management team are scheduled to participate in five upcoming investor conferences.
Ms. Verdin will be responsible for all aspects of human resources, including talent management and organizational development, and will be a key contributor to the Company’s plans for continued growth. Ms. Verdin joins AVROBIO from the Novartis Institutes of Biomedical Research (NIBR) in Cambridge MA, where she partnered with executive leaders and their scientific research teams across seven sites in the US, Asia and Europe, in co-creating organizational vision, and developing operations to achieve increased innovation, effectiveness and collaboration across multiple disease portfolios.
AVROBIO, Inc. (AVRO) (“AVROBIO” or the “Company”), a Phase 2 clinical-stage gene therapy company, today announced that the Company granted non-statutory stock options to new employees as inducement awards outside of the Company’s 2018 Stock Option and Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4). The Company granted the stock options to two new employees hired by AVROBIO from July 29, 2019 to August 12, 2019 as an inducement material to each employee’s acceptance of employment with the Company.
Reported positive interim results from clinical trials of AVR-RD-01 investigational gene therapy in Fabry disease, including 87% substrate reduction in first kidney biopsy at one y
If you are looking for fresh investing inspiration, it's worth keeping a close eye on the latest insider activity. That's particularly the case when it comes to insider buy transactions i.e. purchases by company executives or owners. A Harvard study revealed the following: "We find that insider purchases earn abnormal returns of more than 6% per year, and insider sales do not earn significant abnormal returns." As a result the authors conclude that insider buyers 'have a good feel for near-term developments within their firm.'Indeed, if a corporate insider- who arguably has the most in-depth knowledge about their company- decides to reach into their own pocket to buy shares, it is a strong indicator that they see the stock as undervalued at current levels.Here we focus on informative transactions rather than uninformative transactions (ie expiring options) and transactions that occurred in the healthcare sector specifically. As you will all three stocks below also boast a Strong Buy Street consensus, based on analyst ratings published over the last three months. Let's take a closer look now: Align Tech (ALGN)Align Technology has made a big name for itself in the world of orthodontics. The company has revolutionized the use of metal braces with its transparent Invisalign teeth aligner system. According to Align, over 7.2 million people including over 1.7 million teens have benefited from Invisalign. That makes the company the clear market leader in its field. The company faced a wave of insider sell transactions two and three months ago. However, the tide appears to be turning. In the last couple of days, President, CEO and director Joseph Hogan picked up $998 worth of ALGN stock. He now has a total Align holding valued at approximately $31.4 million. What’s more, this is an insider with a relatively strong track record on his Align transactions. He bought shares back in February 2018 at $252; sold at $350 in August of the same year; and is now buying again with the stock back down at $188.Raj Pudipeddi is chief marketing officer of ALGN. He has also just made his first transaction- buying $206,000 worth of shares on August 6.In fact Piper Jaffray analyst Matt O'Brien highlights the CEO transaction, as well as Align entering into an accelerated $200 million stock repurchase plan as evidence of management’s confidence in the business over both the intermediate and long term. This Top 100 analyst believes Align can outperform rivals, telling investors that the company "has much better products that will win in the marketplace." As a result O’Brien reiterated his buy rating and $240 price target.Credit Suisse’s Erin Wright is even more optimistic. She has a Street high price target of $320. “While concerns over competition, DTC concepts, and ASPs will remain overhangs, we view there is room for several players in a highly underpenetrated clear aligner market. ALGN is well ahead in terms of innovation, and we await further traction in recently launched products” says the analyst. While the analyst consensus shows Align as a cautiously optimistic Moderate Buy, if we switch to only the best-performing analysts then the consensus shifts to a more bullish Strong Buy. Indeed out of 7 top-rated analysts covering the stock, 6 rate ALGN a buy. And their $269 average price target suggests considerable upside potential of 46%. Vertex Pharma (VRTX)This groundbreaking biotech specializes in cystic fibrosis (CF) therapies. This is a rare, life-shortening genetic disease affecting approximately 75,000 people in North America, Europe and Australia.Vertex is making important progress in the treatment of the disease. It just submitted a New Drug Application (NDA) to the US FDA for a Triple Combination Regimen of VX-445 (Elexacaftor), Tezacaftor and Ivacaftor. “The submission of the NDA is a major step toward our goal of bringing this medicine to the largest remaining group of people with CF that still do not have an approved Vertex medicine, as well as toward providing significantly enhanced benefits to patients with two F508del mutations” Vertex’s chief medical officer wrote following the submission on July 22.And now two insiders have arguably demonstrated their confidence in the application by making large stock purchases. Michael Parini, an exec VP and the company’s chief legal and admin officer, snapped up $201,592 worth of stock this week, bringing his total holding to $6.2 million. Meanwhile chief commercial officer Stuart Arbuckle upped his holding by $330,578 to over $5.7 million. And these insiders aren’t the only financial experts demonstrating bullish sentiment right now. The stock shows a ‘Strong Buy’ Street consensus with 10 out of 12 analysts rating VRTX a buy. That’s with an average price target of $217 (25% upside potential). “Vertex put up another very strong quarter (top- / bottom-line beats) with all three cystic fibrosis assets topping expectations” enthused JP Morgan analyst Cory Kasimov on August 1. “With strong ongoing execution on the CF front, focus continues to turn to the pipeline for the next potential leg of the story. We are finding current stock levels increasingly attractive as 2020 is setting up to be a year of major growth potential both in terms of financial (via early 2020 triple approval) and clinical performance” the analyst told investors. Avrobio (AVRO)Biotech Avrobio is developing lentiviral-based gene therapies that it believes can transform patients' lives in a single dose. Its most advanced pipeline drug is for Fabry disease- a rare inherited disorder that results from the buildup of a particular type of fat in the body's cells. The market opportunity is significant: worldwide sales of roughly $4 billion in 2017 for lysosomal storage diseases (LSDs), which analysts see as Avrobio’s total addressable market.In the last two weeks, both a director and one of the company’s owners have each snapped up a further $15 million of Avrobio stock. That brings director Bruce Booth’s total holding in the company up to a whopping $100 million. Interestingly this is by far his biggest holding, but he does have million-dollar positions in three more biotech stocks: Magenta Therapeutics; Unum Therapeutics; and Miragen Therapeutics. Luckily for Booth, Avrobio has a very bullish outlook from the Street right now. Although only three analysts have published recent AVRO ratings- all three rate the stock a buy. Plus their $34 average price target indicates upside potential of 90%. Top Mizuho Securities analyst Difei Yang reiterated her buy rating and $28 price target on July 16. “We believe AVROBIO's robust clinical development program has potential to demonstrate significant clinical benefits in Fabry patients and ultimately position the company's gene therapy as a first-line treatment” she cheered. Yang made the call after AVRO released positive new trial data showing sustained efficacy and a promising safety profile. Most encouragingly, 3/5 patients treated in the Phase 1 trial have discontinued standard of care enzyme replacement therapy (ERT) so far, added the analyst. Looking forward, additional Fabry updates could be available in late 2019/early 2020 although no specific timeline has yet been provided by management. Discover stocks with positive insider sentiment here
AVROBIO, Inc. , a Phase 2 clinical-stage gene therapy company, today announced that the Company will present at the 2019 Wedbush PacGrow Healthcare Conference on Wednesday, August 14, 2019, at 2:30 p.m.
Biotech stocks can make compelling investments if investors can pick the right ones. One way to find these winners is to look at the stocks corporate insiders are buying. While an investment decision shouldn’t be made solely on the basis of insider activity, it is an important factor to consider. We are taking a closer look at 3 biotech stocks showing positive insider signals. AVROBIO, Inc. (AVRO)AVRO is a phase 2 clinical-stage gene therapy company that develops treatments for rare diseases such as Fabry Disease, a lysosomal disease that affects the kidneys, heart and skin. Following the announcement on July 19 that it closed its underwritten public offering of 7,475,000 shares of common stock, both the director, Bruce Booth, and Atlas Venture Fund X, L.P. bought over $15 million worth of the stock. Each bought 810,811 shares at an average price of $18.50 per share, with both becoming 24% owners. AVRO plans to use the money generated from the offering for its current Fabry Disease, Gaucher Disease, Cystinosis and Pompe Disease programs as well as to fund further research and development. The purchase comes after top analyst, Difei Yang, reiterated her Buy rating and $28 price target on July 16, suggesting 25% upside. The Mizuho Securities analyst said “AVROBIO has a $4.0 billion total addressable market (TAM). Available clinical data in Fabry disease has shown encouraging results with initial patients treated achieving meaningful improvements in enzyme activity levels and two patients discontinuing enzyme replacement therapy so far (the standard of care).”Another analyst, Debjit Chattopadhyay, also reiterated his Buy rating and $40 price target on July 16. He believes AVRO could soar by as much as 78% over the next twelve months. “While our price target reflects uncertainties stemming from the clinical update from the Fabry program (AVR-RD-01), resulting in: (1) a push out of our launch estimate into 2H-2022, vs. prior 2H-2021; and (2) lower Fabry POS of 25% from 30%, we believe the company is still poised for substantial long-term growth,” the H.C. Wainwright analyst said. The Street is also bullish on AVRO. The stock boasts a ‘Strong Buy’ analyst consensus and $34 average price target, indicating 51% upside potential.Esperion Therapeutics, Inc. (ESPR)ESPR specializes in developing lipid management treatments for patients with high cholesterol. On July 23, BIOTECH TARGET N V, bought 50,000 shares at an average price of $42.65 per share, bringing the total purchase price to over $2 million. This makes Biotech Target a 13% owner of the company.The buy comes after ESPR announced that it entered into a $200 million funding agreement with Oberland Capital on June 26. The agreement is based on net revenues from ESPR’s bempedoic acid and the bempedoic acid/ezetimibe combination tablet sales with $125 million given upfront, $25 million upon FDA approval and $50 million at Esperion’s option after launch.Cowen & Co. analyst, Chris Shibutani, argues that this funding will drive continued growth. On July 18, he maintained his Buy rating and $80 price target. He believes share prices could surge by as much as 92% over the next twelve months. On June 27, analyst, Michael Yee, said, “Esperion's debt financing brings in an immediate $125M, lifting the company's total pro-forma cash to $355M, and gives it flexibility going into 2020\. We view the deal as a non-dilutive, fundamentally good access to cash, that helps shore up Esperion's balance sheet in case of uncertainty and macro risk in 2020.” The Jefferies analyst maintained his Buy rating and $85 price target, suggesting 104% upside potential. ESPR has a ‘Moderate Buy’ analyst consensus, and $85 average price target, indicating 103% upside.Forty Seven, Inc. (FTSV)On July 22, both FTSV’s director, Jeffrey W. Bird, and Lightspeed Venture Partners X, L.P. increased their stakes in the cancer-fighting biotech company formerly known as CD47 Sciences, Inc. Bird purchased 750,000 shares for $6 million while Lightspeed bought 625,000 shares for $5 million at an average price of $8 per share.The purchase fell on the same day as the company’s announcement that it closed its public offering of 10,781,250 shares. The offering included 1,406,250 shares that could be bought by the underwriters. The buy also occurred shortly after news broke of its license agreement with Ono Pharmaceutical. On July 11, it was announced that FTSV would get the exclusive right to develop, manufacture and commercialize the 5F9 monoclonal antibody that targets CD47, a protein that can cause tumors. Analyst Swayampakula Ramakanth believes the licensing agreement could drive share price growth of 130% over the next twelve months. The H.C. Wainwright analyst maintained a Buy rating and $21 price target on July 12. “We derive our price target based on a risk-based NPV (rNPV) analysis of projected 5F9 revenues through 2030 assuming a 12% discount rate and a 3% terminal growth rate. We derive rNPV of $1.1B for 5F9 and add in cash, cash equivalents, and short-term investments of $114M to arrive at a 12-month price target of $20.57 per diluted share, which we round to $21.00,” Ramakanth added. JonesTrading analyst, Soumit Roy, reiterated his Buy rating and $30 price target on June 14. He believes share prices could jump by an impressive 228% over the next twelve months. “We think share prices are going to recover following the success of the company’s anti-PD(L)-1 drugs,” he said. FTSV has a ‘Strong Buy’ analyst consensus and $26 average price target, suggesting 188% upside potential.
Over the last month the AVROBIO, Inc. (NASDAQ:AVRO) has been much stronger than before, rebounding by 73%. But that...
Regulatory clearances achieved that enable integration of the plato™ platform into Fabry FAB-201 and Gaucher GAU-201 clinical trials in the second half of 2019
"Market volatility has picked up again over the past few weeks. Headlines highlight risks regarding interest rates, the Fed, China, house prices, auto sales, trade wars, and more. Uncertainty abounds. But doesn’t it always? I have no view on whether the recent volatility will continue for a while, or whether the market will be back […]
AVROBIO, Inc. (AVRO) (the “Company”), a Phase 2 clinical-stage gene therapy company, today announced that the U.S. Food and Drug Administration (FDA) has cleared the Company’s Investigational New Drug (IND) application for AVR-RD-01, its gene therapy candidate for the treatment of Fabry disease. The Company now expects to move forward on two key initiatives in its Fabry clinical program: the incorporation of AVROBIO’s plato™ platform into its FAB-201 Phase 2 trial, and the dosing of patients at clinical sites in the U.S. The plato platform consists of a state-of-the-art four-plasmid vector system, automation of a closed cell manufacturing process and a conditioning regimen that utilizes therapeutic drug monitoring (TDM).
AVROBIO, Inc. (AVRO) (the “Company”), a Phase 2 clinical-stage gene therapy company, today announced the participation of its senior management in sessions at the Annual Meeting of the American Society of Gene and Cell Therapy (ASGCT). In addition, multiple oral presentations with preclinical data from the Company’s gene therapy programs in Gaucher disease and cystinosis are also on the program at the ASGCT Annual Meeting.
Geoff MacKay, AVROBIO’s President and Chief Executive Officer, will provide an overview of the Company and a business update. A live webcast of the presentation will also be available under "Events and Presentations" in the Investors section of the Company's website at www.avrobio.com.
AVROBIO, Inc. (AVRO) (the “Company”), a Phase 2 clinical-stage gene therapy company, today announced clinical trial updates from the ongoing investigator-sponsored Phase 1 clinical study and the AVROBIO-sponsored Phase 2 clinical trial of AVR-RD-01. AVR-RD-01 is an investigational gene therapy candidate designed to treat Fabry disease by inserting the GLA gene that encodes functional α-galactosidase A (AGA, the enzyme that is deficient in patients with Fabry disease) with the goal of enabling continuous endogenous AGA production and distribution to tissues and organs.
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