27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Across the recent three months, 6 analysts have shared their insights on Avidity Biosciences (NASDAQ:RNA), expressing a variety of opinions spanning from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 5 | 1 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 1 | 0 | 0 | 0 |
| 2M Ago | 4 | 0 | 0 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $36.83, a high estimate of $60.00, and a low estimate of $23.00. This upward trend is evident, with the current average reflecting a 60.13% increase from the previous average price target of $23.00.
Understanding Analyst Ratings: A Comprehensive Breakdown
The standing of Avidity Biosciences among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Joseph Stringer | Needham | Maintains | Buy | $35.00 | - |
| Eric Schmidt | Cantor Fitzgerald | Announces | Overweight | $60.00 | - |
| Keay Nakae | Chardan Capital | Raises | Buy | $33.00 | $23.00 |
| Joseph Stringer | Needham | Maintains | Buy | $35.00 | - |
| Joseph Stringer | Needham | Maintains | Buy | $35.00 | - |
| Keay Nakae | Chardan Capital | Maintains | Buy | $23.00 | - |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Avidity Biosciences. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Avidity Biosciences compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Avidity Biosciences's stock. This comparison reveals trends in analysts' expectations over time.
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Avidity Biosciences's market standing. Stay informed and make data-driven decisions with our Ratings Table.
Stay up to date on Avidity Biosciences analyst ratings.
About Avidity Biosciences
Avidity Biosciences Inc is a biotechnology company. The company develops novel Antibody Oligonucleotide Conjugates therapies designed to overcome the current limitations of oligonucleotide therapies in order to treat a wide range of serious diseases. Its product, AOC 1001, is designed to treat a rare monogenic muscle disease.
Avidity Biosciences: Delving into Financials
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: Avidity Biosciences's revenue growth over a period of 3 months has faced challenges. As of 31 December, 2023, the company experienced a revenue decline of approximately -20.8%. This indicates a decrease in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: Avidity Biosciences's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of -2756.18%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Avidity Biosciences's ROE stands out, surpassing industry averages. With an impressive ROE of -11.87%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -10.06%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Avidity Biosciences's debt-to-equity ratio is below the industry average at 0.02, reflecting a lower dependency on debt financing and a more conservative financial approach.
What Are Analyst Ratings?
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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