Wedbush Forecasts Higher Earnings for Aerovate Therapeutics

Posted by Tristan Rich on Nov 15th, 2024

Aerovate Therapeutics, Inc. (NASDAQ:AVTE – Free Report) – Analysts at Wedbush boosted their FY2024 EPS estimates for Aerovate Therapeutics in a research note issued to investors on Wednesday, November 13th. Wedbush analyst L. Chico now anticipates that the company will earn ($2.85) per share for the year, up from their previous forecast of ($2.91). The consensus estimate for Aerovate Therapeutics’ current full-year earnings is ($2.74) per share. Wedbush also issued estimates for Aerovate Therapeutics’ FY2025 earnings at ($1.14) EPS.

Aerovate Therapeutics (NASDAQ:AVTE – Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.03.

Aerovate Therapeutics Stock Performance

Shares of NASDAQ:AVTE opened at $2.56 on Friday. The business’s 50-day simple moving average is $2.20 and its 200 day simple moving average is $6.31. The company has a market cap of $73.91 million, a P/E ratio of -0.86 and a beta of 1.00. Aerovate Therapeutics has a one year low of $1.25 and a one year high of $32.42.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AVTE. Deerfield Management Company L.P. Series C purchased a new stake in shares of Aerovate Therapeutics during the second quarter worth about $2,343,000. Vanguard Group Inc. grew its holdings in Aerovate Therapeutics by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 672,275 shares of the company’s stock worth $19,879,000 after acquiring an additional 45,444 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Aerovate Therapeutics in the 2nd quarter worth about $35,000. Affinity Asset Advisors LLC acquired a new stake in shares of Aerovate Therapeutics in the 2nd quarter valued at about $332,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Aerovate Therapeutics during the second quarter worth about $53,000.

Aerovate Therapeutics Company Profile

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Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. It focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.