Traders Purchase Large Volume of Put Options on Avanir Pharmaceuticals (AVNR)
Shares of Avanir Pharmaceuticals (NASDAQ:AVNR) saw some unusual options trading on Thursday. Traders purchased 7,348 put options on the company, Analyst Ratings.Net reports. This represents an increase of 683% compared to the average volume of 938 put options.
A number of research firms have recently commented on AVNR. Analysts at Wedbush reiterated an “outperform” rating on shares of Avanir Pharmaceuticals (NASDAQ:AVNR) in a research note to investors on Thursday. Separately, 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. Finally, 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.
Five analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $11.30.
Shares of Avanir Pharmaceuticals (NASDAQ:AVNR) traded down 15.73% on Friday, hitting $4.205. The stock had a trading volume of 7,721,067 shares. Avanir Pharmaceuticals has a 52-week low of $2.07 and a 52-week high of $6.00. The stock has a 50-day moving average of $4.98 and a 200-day moving average of $3.86. The company’s market cap is $611.7 million.
Avanir Pharmaceuticals (NASDAQ:AVNR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.08) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.11) earnings per share. Avanir Pharmaceuticals’s revenue was up 88.6% compared to the same quarter last year. 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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