Insider Selling: Avanir Pharmaceuticals CEO Sells 9,670 Shares of Stock (AVNR)
Avanir Pharmaceuticals (NASDAQ:AVNR) CEO Keith Katkin unloaded 9,670 shares of Avanir Pharmaceuticals stock on the open market in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $5.26, for a total value of $50,864.20. Following the completion of the sale, the chief executive officer now directly owns 760,412 shares in the company, valued at approximately $3,999,767. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on AVNR. Analysts at Jefferies Group raised their price target on shares of Avanir Pharmaceuticals from $4.00 to $5.00 in a research note on Wednesday, June 11th. They now have a “hold” rating on the stock. Analysts at JMP Securities cut their price target on shares of Avanir Pharmaceuticals from $11.00 to $10.00 in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $8.53.
Shares of Avanir Pharmaceuticals (NASDAQ:AVNR) traded up 1.15% on Friday, hitting $5.27. 2,808,744 shares of the company’s stock traded hands. Avanir Pharmaceuticals has a 52 week low of $2.62 and a 52 week high of $6.00. The stock has a 50-day moving average of $5.4 and a 200-day moving average of $4.47. The company’s market cap is $842.3 million.
Avanir Pharmaceuticals (NASDAQ:AVNR) last announced its earnings results on Tuesday, May 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $26.95 million for the quarter, compared to the consensus estimate of $28.21 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was up 54.6% on a year-over-year basis. On average, analysts predict that Avanir Pharmaceuticals will post $-0.31 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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