Evercore Begins Coverage on Avalyn Pharma (NASDAQ:AVLN)

Investment analysts at Evercore began coverage on shares of Avalyn Pharma (NASDAQ:AVLN) in a research note issued on Tuesday. The firm set an “outperform” rating and a $51.00 price target on the stock. Evercore’s price objective suggests a potential upside of 76.84% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. Morgan Stanley started coverage on Avalyn Pharma in a research note on Tuesday. They set an “overweight” rating and a $53.00 price objective for the company. Wall Street Zen raised Avalyn Pharma to a “hold” rating in a research note on Saturday, May 9th. Guggenheim initiated coverage on Avalyn Pharma in a research note on Monday. They set a “buy” rating and a $80.00 price target for the company. Finally, Jefferies Financial Group initiated coverage on Avalyn Pharma in a research note on Monday. They set a “buy” rating and a $52.00 price target for the company. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Avalyn Pharma currently has a consensus rating of “Buy” and an average price target of $59.00.

Avalyn Pharma Stock Performance

NASDAQ:AVLN opened at $28.84 on Tuesday. Avalyn Pharma has a 52-week low of $25.05 and a 52-week high of $32.22.

Insider Activity

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