thoughts on these estimates, before EPS results? Avidity Biosciences (NASDAQ:RNA)

Earnings results for Avidity Biosciences (NASDAQ:RNA)

Avidity Biosciences, Inc. is estimated to report earnings on 02/16/2021. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 1 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.32.

Avidity Biosciences last posted its quarterly earnings results on November 10th, 2020. The biotechnology company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.06. The firm had revenue of $1.75 million for the quarter. Avidity Biosciences has generated $0.00 earnings per share over the last year. Avidity Biosciences has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Tuesday, February 16th, 2021 based off prior year’s report dates.

Analyst Opinion on Avidity Biosciences (NASDAQ:RNA)

4 Wall Street analysts have issued ratings and price targets for Avidity Biosciences in the last 12 months. Their average twelve-month price target is $43.33, predicting that the stock has a possible upside of 94.49%. The high price target for RNA is $60.00 and the low price target for RNA is $34.00. There are currently 4 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Avidity Biosciences has received a consensus rating of Buy. The company’s average rating score is 3.00, and is based on 4 buy ratings, no hold ratings, and no sell ratings. According to analysts’ consensus price target of $43.33, Avidity Biosciences has a forecasted upside of 94.5% from its current price of $22.28. Avidity Biosciences has received no research coverage in the past 90 days.

Dividend Strength: Avidity Biosciences (NASDAQ:RNA)

Avidity Biosciences does not currently pay a dividend. Avidity Biosciences does not have a long track record of dividend growth.

Insiders buying/selling: Avidity Biosciences (NASDAQ:RNA)

In the past three months, Avidity Biosciences insiders have not sold or bought any company stock. 72.02% of the stock of Avidity Biosciences is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Avidity Biosciences (NASDAQ:RNA

Earnings for Avidity Biosciences are expected to decrease in the coming year, from ($1.53) to ($1.66) per share.

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