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

Jade Biosciences

13/05/2024 23:13

* Aerovate Therapeutics Inc  AVTE.OQ  reported a quarterly
adjusted loss of 83 cents​​ per share for the quarter ended in
March, lower than the same quarter last year, when the company
reported EPS of -67 cents.  The mean expectation of six analysts
for the quarter was for a loss of 76 cents per share. Wall
Street expected results to range from -81 cents to -73 cents per
share.
    * Reported revenue was zero​; analysts expected zero. 
    * Aerovate Therapeutics Inc's reported EPS for the quarter
was a
loss of 83 cents​.
    * The company reported a quarterly loss of $23.19 million.
    * Aerovate Therapeutics Inc shares had fallen by 32.9% this
quarter and lost 12.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 12.7%
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
"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 $45.50 
This summary was machine generated from LSEG data May 13 at
10:13 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      -0.76          -0.83          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