Aerovate Therapeutics Inc reports results for the quarter ended in December - Earnings Summary

Jade Biosciences

27/03/2024 12:00

* Aerovate Therapeutics Inc  AVTE.OQ  reported a quarterly
adjusted loss of 74 cents​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of -61 cents.  The mean expectation of
six analysts for the quarter was for a loss of 71 cents per
share. Wall Street expected results to range from -74 cents
to -67 cents per share.
    * Reported revenue was zero​; analysts expected zero. 
    * Aerovate Therapeutics Inc's reported EPS for the quarter
was a
loss of 74 cents​.
    * The company reported a quarterly loss of $20.41 million.
    * Aerovate Therapeutics Inc shares had risen by 13.3% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.2%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 7 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "strong buy"

Wall Street's median 12-month price target for Aerovate
Therapeutics Inc is $42.00 
This summary was machine generated from LSEG data March 27 at
12:00 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
 Dec. 31 2023      -0.71          -0.74          Missed
 Sep. 30 2023      -0.69          -0.71          Missed
 Jun. 30 2023      -0.70          -0.76          Missed
 Mar. 31 2023      -0.60          -0.67          Missed