Assessing Avidity Biosciences: Insights From 10 Financial Analysts

Ratings for Avidity Biosciences RNA were provided by 10 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.

The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.

Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $72.6, along with a high estimate of $96.00 and a low estimate of $53.00. Surpassing the previous average price target of $72.25, the current average has increased by 0.48%.

Interpreting Analyst Ratings: A Closer Look

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.

Key Insights:

• Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Avidity Biosciences. This information provides a snapshot of how analysts perceive the current state of the company.
• Rating: Providing a comprehensive analysis, analysts offer 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: Understanding forecasts, analysts offer estimates for Avidity Biosciences's future value. Examining the current and prior targets provides insight into analysts' changing expectations.

Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Avidity Biosciences's market standing. Stay informed and make well-considered decisions with our Ratings Table.

Stay up to date on Avidity Biosciences analyst ratings.

All You Need to Know About 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.

Key Indicators: Avidity Biosciences's Financial Health

Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.

Decline in Revenue: Over the 3 months period, Avidity Biosciences faced challenges, resulting in a decline of approximately -11.7% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. When compared to others in the Health Care sector, the company faces challenges, achieving a growth rate lower than the average among peers.

Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of -3461.76%, the company may need to address challenges in effective cost control.

Return on Equity (ROE): Avidity Biosciences's ROE stands out, surpassing industry averages. With an impressive ROE of -6.9%, the company demonstrates effective use of equity capital and strong financial performance.

Return on Assets (ROA): Avidity Biosciences's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -6.16%, the company may face hurdles in generating optimal returns from its assets.

Debt Management: With a below-average debt-to-equity ratio of 0.01, Avidity Biosciences adopts a prudent financial strategy, indicating a balanced approach to debt management.

What Are Analyst Ratings?

Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.

Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.

Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.