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Raymond James announced Adverum Biotech (NASDAQ:ADVM), boosting its price target to $6.00 today

Yesterday Adverum Biotech (NASDAQ:ADVM) traded 3.47% higher at $3.60. The company’s 50-day moving average is $2.59 and its 200-day moving average is $2.68. The last closing price is up 38.86% from the 200-day moving average, compared to the S&P 500 which has increased 0.03% over the same time. 326,691 shares of the stock were exchanged, up from an average trading volume of 280,567

Adverum Biotech (NASDAQ:ADVM) had its target bumped up to $6.00 by Raymond James in an issued report announced 10/12/2017. The bumped up target implies a potential upside of 0.67% from the company's last closing price.

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Adverum Biotech (NASDAQ:ADVM)

Adverum Biotech has a 52 week low of $2.40 and a 52 week high of $4.17 The company’s market cap is currently $0.

In addition to Raymond James reporting its target price, a total of 3 brokers have issued a report on the stock. The consensus target price is $9.50 with 1 broker rating the stock a strong buy, 2 brokers rating the stock a buy, 0 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

General Information About Adverum Biotech (NASDAQ:ADVM)

Adverum Biotechnologies, Inc., formerly Avalanche Biotechnologies, Inc., is a gene therapy company. The Company is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. The Company operates and manages its business in the segment of developing and commercializing gene therapeutics. It focuses on diseases with unmet medical need, including ophthalmic diseases, such as wet age-related macular degeneration (AMD), as well as rare genetic diseases. The Company's product candidates include AVA-101 and AVA-201 for treatment of Wet AMD; AVA-322 and AVA-323 for the treatment of Color Vision Deficiency, and AVA-311 for the treatment of Juvenile X-linked Retinoschisis. It has generated human proof-of-concept data for AVA-101 in a Phase I trial with over eight wet AMD subjects conducted at Lions Eye Institute (LEI) in Australia. It is developing AVA-322 and AVA-323 for the treatment of color vision deficiency (CVD).

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