Aduro Biotech, Inc. (NASDAQ:ADRO) Forecasted to Earn Q3 2017 Earnings of ($0.30) Per Share
Aduro Biotech, Inc. (NASDAQ:ADRO) – Equities researchers at William Blair upped their Q3 2017 earnings per share estimates for shares of Aduro Biotech in a research note issued on Wednesday. William Blair analyst M. Phipps now expects that the biotechnology company will earn ($0.30) per share for the quarter, up from their prior forecast of ($0.32). William Blair also issued estimates for Aduro Biotech’s Q4 2017 earnings at ($0.33) EPS, FY2017 earnings at ($1.22) EPS, Q1 2018 earnings at ($0.37) EPS, Q2 2018 earnings at ($0.41) EPS, Q3 2018 earnings at ($0.45) EPS, Q4 2018 earnings at ($0.45) EPS, FY2018 earnings at ($1.68) EPS, FY2019 earnings at ($1.78) EPS, FY2020 earnings at ($1.79) EPS and FY2021 earnings at ($1.51) EPS.
Aduro Biotech (NASDAQ:ADRO) last posted its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.02. The business had revenue of $5.90 million for the quarter, compared to the consensus estimate of $3.98 million. Aduro Biotech had a negative net margin of 609.58% and a negative return on equity of 43.92%. Aduro Biotech’s revenue was down 84.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share.
ADRO has been the topic of several other reports. HC Wainwright assumed coverage on shares of Aduro Biotech in a report on Monday, May 1st. They issued a “buy” rating and a $18.00 price target on the stock. BidaskClub upgraded shares of Aduro Biotech from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Cowen and Company assumed coverage on shares of Aduro Biotech in a research report on Tuesday, July 18th. They issued an “outperform” rating for the company. Zacks Investment Research downgraded shares of Aduro Biotech from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 2nd. Finally, Canaccord Genuity set a $30.00 price objective on shares of Aduro Biotech and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $19.00.
Shares of Aduro Biotech (ADRO) opened at 12.25 on Monday. The firm’s 50-day moving average price is $12.14 and its 200-day moving average price is $10.93. The company’s market capitalization is $902.53 million. Aduro Biotech has a 12-month low of $8.75 and a 12-month high of $16.43.
In other Aduro Biotech news, insider Thomas W. Dubensky sold 144,301 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $10.03, for a total value of $1,447,339.03. Following the completion of the transaction, the insider now owns 117,871 shares in the company, valued at $1,182,246.13. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Stephen T. Isaacs sold 10,600 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $10.01, for a total transaction of $106,106.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 419,205 shares of company stock valued at $4,410,591. Insiders own 6.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc increased its position in shares of Aduro Biotech by 11.2% in the second quarter. Legal & General Group Plc now owns 10,359 shares of the biotechnology company’s stock worth $118,000 after buying an additional 1,043 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in shares of Aduro Biotech during the first quarter worth $145,000. Daiwa SB Investments Ltd. purchased a new position in shares of Aduro Biotech during the first quarter worth $153,000. Creative Planning increased its position in Aduro Biotech by 73.9% in the first quarter. Creative Planning now owns 15,000 shares of the biotechnology company’s stock valued at $161,000 after buying an additional 6,375 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in Aduro Biotech by 15.9% in the first quarter. Parametric Portfolio Associates LLC now owns 15,424 shares of the biotechnology company’s stock valued at $166,000 after buying an additional 2,119 shares during the period. Institutional investors and hedge funds own 35.60% of the company’s stock.
Aduro Biotech Company Profile
Aduro Biotech, Inc is an immunotherapy company, which focuses on the discovery, development and commercialization of therapies that manage the treatment of various diseases, including cancer. The Company’s product candidates from its Live, Attenuated, Double-Deleted (LADD) Listeria monocytogenes, Stimulator of Interferon Genes Pathway Activator, and B-select monoclonal antibody platforms are designed to stimulate and/or regulate innate and adaptive immune responses, either as single agents or in combination with conventional therapies, as well as other immunotherapies.
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