Research Analysts Issue Forecasts for Audentes Therapeutics Inc’s FY2023 Earnings (NASDAQ:BOLD)

Audentes Therapeutics Inc (NASDAQ:BOLD) – Piper Jaffray Companies boosted their FY2023 earnings per share (EPS) estimates for Audentes Therapeutics in a research note issued on Monday, April 8th, Zacks Investment Research reports. Piper Jaffray Companies analyst C. Raymond now forecasts that the biotechnology company will post earnings of $3.71 per share for the year, up from their prior estimate of $3.39. Piper Jaffray Companies currently has a “Positive” rating and a $55.00 target price on the stock.

Several other equities research analysts have also recently commented on the company. Wedbush upped their price target on Audentes Therapeutics from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Chardan Capital upgraded Audentes Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the company from $35.00 to $40.00 in a research report on Monday, February 25th. Guggenheim upgraded Audentes Therapeutics from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Friday, January 11th. Citigroup cut Audentes Therapeutics from a “neutral” rating to a “sell” rating and raised their price target for the company from $28.00 to $32.00 in a research report on Friday, April 26th. Finally, ValuEngine upgraded Audentes Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $39.38.

Shares of Audentes Therapeutics stock traded up $0.85 during trading hours on Wednesday, hitting $37.73. 1,087,835 shares of the company were exchanged, compared to its average volume of 523,867. Audentes Therapeutics has a 1 year low of $17.95 and a 1 year high of $46.18. The stock has a market capitalization of $1.66 billion, a PE ratio of -11.10 and a beta of 1.85.

Audentes Therapeutics (NASDAQ:BOLD) last posted its quarterly earnings data on Wednesday, February 27th. The biotechnology company reported ($0.84) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.92) by $0.08. During the same period last year, the company earned ($0.82) earnings per share.

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of Audentes Therapeutics by 32.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 127,693 shares of the biotechnology company’s stock worth $4,879,000 after acquiring an additional 31,048 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Audentes Therapeutics by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,284 shares of the biotechnology company’s stock worth $4,644,000 after buying an additional 3,331 shares in the last quarter. BlackRock Inc. raised its stake in shares of Audentes Therapeutics by 4.5% in the 3rd quarter. BlackRock Inc. now owns 2,567,986 shares of the biotechnology company’s stock worth $101,667,000 after buying an additional 109,815 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Audentes Therapeutics in the 3rd quarter worth $6,708,000. Finally, Franklin Resources Inc. raised its stake in shares of Audentes Therapeutics by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 401,100 shares of the biotechnology company’s stock worth $15,880,000 after buying an additional 5,900 shares in the last quarter.

In other Audentes Therapeutics news, Director Louis G. Lange sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.00, for a total value of $720,000.00. Following the sale, the director now directly owns 306,099 shares of the company’s stock, valued at approximately $11,019,564. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew R. Patterson sold 21,000 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $30.00, for a total value of $630,000.00. Following the completion of the sale, the chief executive officer now directly owns 135,700 shares in the company, valued at $4,071,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,000 shares of company stock worth $1,650,600. 6.60% of the stock is owned by corporate insiders.

About Audentes Therapeutics

Audentes Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing gene therapy products for patients living with serious, life-threatening rare diseases caused by single gene defects. The company is developing AT132, which is in Phase I/II clinical studies for the treatment of X-linked myotubular myopathy (XLMTM); AT342 that is in Phase I/II clinical studies to treat crigler-najjar syndrome; AT845, which is in preclinical studies for the treatment of pompe disease; and AT307 to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia.

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Earnings History and Estimates for Audentes Therapeutics (NASDAQ:BOLD)

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