Avidity Biosciences Inc reports results for the quarter ended March 31 - Earnings Summary

• Avidity Biosciences Inc RNA.OQ reported a quarterly adjusted loss of 90 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of -79 cents. The mean expectation of eleven analysts for the quarter was for a loss of 90 cents per share. Wall Street expected results to range from $-1.07 to -61 cents per share.

• Revenue fell 55.6% to $1.57 million from a year ago; analysts expected $1.90 million.

• Avidity Biosciences Inc's reported EPS for the quarter was a loss of 90 cents​.

• The company reported a quarterly loss of $115.77 million.

• Avidity Biosciences Inc shares had fallen by 11.3% this quarter and lost 10.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 14.9% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the pharmaceuticals peer group is also "buy"

• Wall Street's median 12-month price target for Avidity Biosciences Inc is $65.00

This summary was machine generated from LSEG data May 8 at 09:00 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)