Stock Traders Buy High Volume of Put Options on Avanir Pharmaceuticals (AVNR)
Avanir Pharmaceuticals (NASDAQ:AVNR) was the target of some unusual options trading activity on Wednesday. Stock traders purchased 7,348 put options on the stock, Analyst Ratings Network reports. This represents an increase of approximately 1,141% compared to the average volume of 592 put options.
AVNR has been the subject of a number of recent research reports. Analysts at Piper Jaffray Cos. reiterated an “overweight” rating on shares of Avanir Pharmaceuticals (NASDAQ:AVNR) in a research note to investors on Monday, August 26th. They now have a $13.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Avanir Pharmaceuticals (NASDAQ:AVNR) from $3.00 to $4.50 in a research note to investors on Wednesday, August 7th. Finally, analysts at Mizuho raised their price target on shares of Avanir Pharmaceuticals (NASDAQ:AVNR) from $10.00 to $11.00 in a research note to investors on Friday, July 12th. They now have a “buy” rating on the stock.
Four research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $10.75.
Shares of Avanir Pharmaceuticals (NASDAQ:AVNR) opened at 4.79 on Thursday. Avanir Pharmaceuticals has a 52 week low of $2.07 and a 52 week high of $6.00. The stock’s 50-day moving average is $4.97 and its 200-day moving average is $3.85. The company’s market cap is $696.8 million.
Avanir Pharmaceuticals (NASDAQ:AVNR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.03. The company had revenue of $19.80 million for the quarter, compared to the consensus estimate of $19.53 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was up 88.6% on a year-over-year basis. Analysts expect that Avanir Pharmaceuticals will post $-0.38 EPS for the current fiscal year.
AVANIR Pharmaceuticals, Inc (NASDAQ:AVNR) is a pharmaceutical company focused on developing and commercializing therapeutic products for the treatment of central nervous system disorders.
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