Morgan Stanley Maintains Their Buy Rating on Avrobio (AVRO)

Morgan Stanley analyst David Lebovitz maintained a Buy rating on Avrobio (AVROResearch Report) on October 12 and set a price target of $34.00. The company’s shares closed last Wednesday at $15.99.

According to TipRanks.com, Lebovitz is a 4-star analyst with an average return of 7.5% and a 58.7% success rate. Lebovitz covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Akebia Therapeutics, and Blueprint Medicines.

Avrobio has an analyst consensus of Moderate Buy, with a price target consensus of $27.33, implying a 71.9% upside from current levels. In a report issued on October 5, Mizuho Securities also maintained a Buy rating on the stock with a $35.00 price target.

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Based on Avrobio’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $28.83 million. In comparison, last year the company had a GAAP net loss of $16.06 million.

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Avrobio, Inc. engages in the development of lentiviral-based gene therapies. It focuses on gene therapy for fabry, gaucher, pompe disease, and cystinosis. These gene therapies, on which the company was founded, were developed by Dr. Jeffrey Medin and Dr. Christopher Paige at the University Health Network. AvroBio launched in 2015, is headed by Co-Founder, President and CEO Geoff Mackay, and is headquartered in Cambridge, MA.