In the preceding three months, 7 analysts have released ratings for Avidity Biosciences RNA, presenting a wide array of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 5 | 2 | 0 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 0 | 0 | 0 | 0 |
| 3M Ago | 3 | 1 | 0 | 0 | 0 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $47.14, a high estimate of $60.00, and a low estimate of $35.00. Witnessing a positive shift, the current average has risen by 20.87% from the previous average price target of $39.00.
Analyzing Analyst Ratings: A Detailed Breakdown
In examining recent analyst actions, we gain insights into how financial experts perceive Avidity Biosciences. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Josh Schimmer | Evercore ISI Group | Raises | Outperform | $54.00 | $45.00 |
| Keay Nakae | Chardan Capital | Raises | Buy | $60.00 | $45.00 |
| Geoff Meacham | B of A Securities | Raises | Buy | $45.00 | $40.00 |
| Joseph Stringer | Needham | Raises | Buy | $46.00 | $35.00 |
| Keay Nakae | Chardan Capital | Raises | Buy | $45.00 | $33.00 |
| Josh Schimmer | Evercore ISI Group | Raises | Outperform | $45.00 | $40.00 |
| Joseph Stringer | Needham | Maintains | Buy | $35.00 | $35.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Avidity Biosciences. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Avidity Biosciences compared to the broader market.
- Price Targets: Delving into movements, analysts provide estimates for the future value of Avidity Biosciences's stock. This analysis reveals shifts in analysts' expectations over time.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Avidity Biosciences's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
Stay up to date on Avidity Biosciences analyst ratings.
Unveiling the Story Behind Avidity Biosciences
Avidity Biosciences Inc is a biotechnology company. The company develops novel Antibody Oligonucleotide Conjugates therapies designed to overcome the current limitations of oligonucleotide therapies in order to treat a wide range of serious diseases. Its product, AOC 1001, is designed to treat a rare monogenic muscle disease.
Understanding the Numbers: Avidity Biosciences's Finances
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Avidity Biosciences's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 58.67% as of 31 March, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Health Care sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Avidity Biosciences's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -1943.41%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Avidity Biosciences's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -10.34%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Avidity Biosciences's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -8.72%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Avidity Biosciences's debt-to-equity ratio is below the industry average. With a ratio of 0.01, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
The Core of Analyst Ratings: What Every Investor Should Know
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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