Adverum Biotechnologies Inc reports results for the quarter ended in March - Earnings Summary

Adverum Biotechnologies

09/05/2024 23:29

* Adverum Biotechnologies Inc  ADVM.OQ  reported a quarterly
adjusted loss of $1.50​​ per share for the quarter ended in
March, higher than the same quarter last year, when the company
reported EPS of $-2.90.  The mean expectation of seven analysts
for the quarter was for a loss of $1.40 per share. Wall Street
expected results to range from $-1.91 to $-1.20 per share.
    * Reported revenue was zero​; analysts expected $85.00
thousand. 
    * Adverum Biotechnologies Inc's reported EPS for the quarter
was a
loss of $1.50​.
    * The company reported a quarterly loss of $24.79 million.
    * Adverum Biotechnologies Inc shares had fallen by 30.6%
this
quarter and gained 30.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 48.3%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for Adverum
Biotechnologies Inc is $35.00 
This summary was machine generated from LSEG data May 9 at 10:29
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      -1.40          -1.50          Missed
 Dec. 31 2023      -3.37          -2.30          Beat
 Sep. 30 2023      -3.15          -3.30          Missed
 Jun. 30 2023      -3.29          -3.10          Beat