Wedbush Remains a Buy on Aerovate Therapeutics (AVTE)

In a report released today, Andreas Argyrides from Wedbush maintained a Buy rating on Aerovate Therapeutics (AVTE – Research Report), with a price target of $41.00. The company’s shares closed yesterday at $19.14.

Argyrides covers the Healthcare sector, focusing on stocks such as Sangamo Biosciences, Sarepta Therapeutics, and RegenXBio. According to TipRanks, Argyrides has an average return of 6.5% and a 46.27% success rate on recommended stocks.

Aerovate Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $47.75.

AVTE market cap is currently $550M and has a P/E ratio of -6.67.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AVTE in relation to earlier this year.

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Aerovate Therapeutics (AVTE) Company Description:

Aerovate Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing drugs that improve the lives of patients with rare cardiopulmonary disease. Its initial focus is on advancing AV-101, dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, a devastating disease impacting people in the United States and Europe.