Avalo Therapeutics Inc (NASDAQ:AVTX) reported a narrower-than-expected loss for the first quarter on Wednesday.
The company posted quarterly losses of 98 cents per share which beat the analyst consensus estimate of loss of $1.13 per share.
“The positive Phase 2 LOTUS trial results of abdakibart in HS, which demonstrated a deep and consistent clinical response across both HiSCR75 and HiSCR50 endpoints, mark the beginning of a transformative period for Avalo,” said Garry Neil, MD, Chief Executive Officer of Avalo. “With our recently secured financing, Avalo is well-positioned to advance abdakibart into a registrational phase 3 program. Our focus remains on delivering this innovative mechanism of action via a patient-friendly potential monthly dosing regimen to provide a much-needed new treatment option for those living with HS.”
Avalo Therapeutics shares closed at $19.85 on Wednesday.
These analysts made changes to their price targets on Avalo Therapeutics following earnings announcement.
- HC Wainwright & Co. analyst Mitchell S. Kapoor maintained the stock with a Buy and lowered the price target from $40 to $35.
- Mizuho analyst Joseph Catanzaro maintained the stock with an Outperform rating and raised the price target from $39 to $45.
- Wedbush analyst Robert Driscoll maintained the stock with an Outperform rating and lowered the price target from $40 to $34.
Considering buying AVTX stock? Here’s what analysts think:
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