Avidity Biosciences Inc reports results for the quarter ended in June - Earnings Summary

Avidity Biosciences

09/08/2024 21:51

* Avidity Biosciences Inc  RNA.OQ  reported a quarterly
adjusted
loss of 65 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of -66 cents.  The mean expectation of
eight analysts for the quarter was for a loss of 79 cents per
share. Wall Street expected results to range from -94 cents
to -60 cents per share.
    * Revenue fell 11.7% to $2.05 million from a year ago;
analysts
expected $2.64 million. 
    * Avidity Biosciences Inc's reported EPS for the quarter was
a
loss of 65 cents​.
    * The company reported a quarterly loss of $70.79 million.
    * Avidity Biosciences Inc shares had risen by 2.5% this
quarter and gained 362.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.1%
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 9 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the
pharmaceuticals
peer group is also "buy"

Wall Street's median 12-month price target for Avidity
Biosciences Inc is $56.00 
This summary was machine generated from LSEG data August 9 at
08:51 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
 Jun. 30 2024      -0.79          -0.65          Beat
 Mar. 31 2024      -0.78          -0.79          Missed
 Dec. 31 2023      -0.66          -0.79          Missed
 Sep. 30 2023      -0.77          -0.71          Beat