Wedbush Weighs in on Aerovate Therapeutics, Inc.’s FY2028 Earnings (NASDAQ:AVTE)

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) – Equities research analysts at Wedbush issued their FY2028 earnings per share (EPS) estimates for shares of Aerovate Therapeutics in a research note issued to investors on Tuesday, August 13th. Wedbush analyst L. Chico anticipates that the company will post earnings per share of ($0.72) for the year. Wedbush has a “Neutral” rating and a $3.00 price objective on the stock. The consensus estimate for Aerovate Therapeutics’ current full-year earnings is ($2.79) per share.

A number of other analysts have also recently weighed in on AVTE. BTIG Research cut Aerovate Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, June 17th. TD Cowen cut Aerovate Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Evercore ISI lowered shares of Aerovate Therapeutics from an “outperform” rating to an “inline” rating and dropped their price target for the company from $27.00 to $2.00 in a research note on Tuesday, June 18th. Guggenheim restated a “neutral” rating on shares of Aerovate Therapeutics in a research report on Monday, June 17th. Finally, Wells Fargo & Company cut shares of Aerovate Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $35.00 to $2.00 in a report on Tuesday, June 18th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, Aerovate Therapeutics currently has a consensus rating of “Hold” and an average price target of $2.25.

Aerovate Therapeutics Trading Up 4.1 %

Shares of AVTE opened at $1.79 on Wednesday. The firm has a market capitalization of $51.59 million, a price-to-earnings ratio of -0.59 and a beta of 1.02. The firm’s fifty day simple moving average is $4.25 and its 200-day simple moving average is $15.94. Aerovate Therapeutics has a twelve month low of $1.25 and a twelve month high of $32.42.

Aerovate Therapeutics (NASDAQ:AVTE) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.09).

Insider Buying and Selling at Aerovate Therapeutics

In other news, insider George A. Eldridge sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $25.03, for a total transaction of $375,450.00. Following the transaction, the insider now directly owns 5,022 shares in the company, valued at $125,700.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 24.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aerovate Therapeutics

Hedge funds have recently made changes to their positions in the business. Deerfield Management Company L.P. Series C purchased a new stake in Aerovate Therapeutics during the 2nd quarter valued at approximately $2,343,000. Affinity Asset Advisors LLC purchased a new position in shares of Aerovate Therapeutics in the 2nd quarter valued at approximately $332,000. Cubist Systematic Strategies LLC acquired a new position in shares of Aerovate Therapeutics in the second quarter valued at approximately $53,000. XTX Topco Ltd purchased a new stake in shares of Aerovate Therapeutics during the second quarter worth approximately $35,000. Finally, Warberg Asset Management LLC acquired a new stake in shares of Aerovate Therapeutics during the second quarter worth $111,000.

About Aerovate Therapeutics

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. It focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.