Adverum Biotechnologies (ADVM) Initiated with a Buy at Leerink Partners

Adverum Biotechnologies (ADVMResearch Report) received a Buy rating and a $21.00 price target from Leerink Partners analyst Mani Foroohar yesterday. The company’s shares closed last Tuesday at $12.72.

According to, Foroohar is a 2-star analyst with an average return of 3.8% and a 52.3% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals, Intellia Therapeutics, and Abeona Therapeutics.

Currently, the analyst consensus on Adverum Biotechnologies is a Moderate Buy with an average price target of $17.00.

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The company has a one-year high of $26.98 and a one-year low of $7.36. Currently, Adverum Biotechnologies has an average volume of 953.7K.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADVM in relation to earlier this year.

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Adverum Biotechnologies, Inc. is a clinical-stage biotechnology company that engages in the development of novel gene therapies to treat patients with sight-threatening ophthalmic diseases. It focuses on treatment of wet age-related macular degeneration, alpha-1 antitrypsin deficiency, hereditary angioedema, friedreich’s ataxia, severe allergy, color vision deficiency, and juvenile x-linked retinoschisis. The company was founded by Mark S. Blumenkranz, Thomas W. Chalberg, Jr. and Steven Daniel Schwartz on July 17, 2006 and is headquartered in Menlo Park, CA.