Avidity Biosciences Inc reports results for the quarter ended June 30 - Earnings Summary

• Avidity Biosciences Inc RNA.OQ reported a quarterly adjusted loss of $1.21​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of -65 cents. The mean expectation of fifteen analysts for the quarter was for a loss of 99 cents per share. Wall Street expected results to range from $-1.33 to -61 cents per share.

• Revenue rose 88.1% to $3.85 million from a year ago; analysts expected $1.47 million.

• Avidity Biosciences Inc's reported EPS for the quarter was a loss of $1.21​.

• The company reported a quarterly loss of $157.32 million.

• Avidity Biosciences Inc shares had risen by 69.9% this quarter and gained 66.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.1% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "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, about 26.9% above its last closing price of $47.52

This summary was machine generated from LSEG data August 8 at 03:48 a.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)