Avalyn Pharma (NASDAQ:AVLN) Stock Price Up 6% – Here’s Why

Avalyn Pharma Inc. (NASDAQ:AVLN) shares traded up 6% on Thursday. The company traded as high as $26.61 and last traded at $26.61. Approximately 3,434 shares changed hands during trading, a decline of 99% from the average session volume of 311,706 shares. The stock had previously closed at $25.11.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AVLN shares. Morgan Stanley increased their price objective on shares of Avalyn Pharma from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Weiss Ratings initiated coverage on shares of Avalyn Pharma in a research report on Thursday, August 13th. They set a “sell (d+)” rating for the company. Wall Street Zen downgraded Avalyn Pharma from a “hold” rating to a “sell” rating in a research note on Sunday, September 20th. Finally, Raymond James Financial initiated coverage on Avalyn Pharma in a research report on Friday, October 2nd. They issued an “outperform” rating and a $60.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Avalyn Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Avalyn Pharma Trading Up 8.5%

The stock has a market capitalization of $1.21 billion and a price-to-earnings ratio of -1.19. The stock has a 50 day moving average of $31.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 33.12 and a current 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, topping the consensus estimate of ($1.03) by $0.05. Analysts predict that Avalyn Pharma Inc. will post -3.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Montanova Capital LLC bought a new stake in shares of Avalyn Pharma in the second quarter worth about $82,402,000. Braidwell LP bought a new position in shares of Avalyn Pharma during the 2nd quarter valued at about $26,382,000. State Street Corp bought a new stake in Avalyn Pharma during the 2nd quarter worth approximately $10,501,000. Finally, Bank of New York Mellon Corp bought a new stake in Avalyn Pharma in the 2nd quarter valued at $1,321,000.

About Avalyn Pharma

Avalyn Pharma, Inc (NASDAQ: AVLN) is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for patients with pulmonary fibrosis and other serious respiratory diseases. The company’s research is aimed at delivering established antifibrotic medicines directly to the lungs, with the potential to improve treatment effectiveness while reducing systemic exposure and associated side effects.

Avalyn’s lead product candidate is AP01, an inhaled formulation of pirfenidone being developed for idiopathic pulmonary fibrosis and progressive pulmonary fibrosis.