Investors Purchase High Volume of Put Options on Avanir Pharmaceuticals (AVNR)
Avanir Pharmaceuticals (NASDAQ:AVNR) was the target of some unusual options trading activity on Friday. Stock traders acquired 7,348 put options on the company, American Banking News reports. This is an increase of approximately 471% compared to the average daily volume of 1,286 put options.
AVNR has been the subject of a number of recent research reports. 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 equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $11.30.
Shares of Avanir Pharmaceuticals (NASDAQ:AVNR) opened at 4.08 on Monday. Avanir Pharmaceuticals has a one year low of $2.07 and a one year high of $6.00. The stock has a 50-day moving average of $4.96 and a 200-day moving average of $3.87. The company’s market cap is $593.5 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. On average, analysts predict that Avanir Pharmaceuticals will post $-0.38 earnings per share 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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