FY2023 EPS Estimates for Atea Pharmaceuticals, Inc. Lowered by SVB Leerink (NASDAQ:AVIR)

Atea Pharmaceuticals, Inc. (NASDAQ:AVIRGet Rating) – Equities researchers at SVB Leerink reduced their FY2023 earnings estimates for Atea Pharmaceuticals in a research report issued on Monday, September 19th. SVB Leerink analyst R. Ruiz now expects that the company will earn ($2.60) per share for the year, down from their previous estimate of ($2.55). The consensus estimate for Atea Pharmaceuticals’ current full-year earnings is ($1.86) per share. SVB Leerink also issued estimates for Atea Pharmaceuticals’ FY2024 earnings at ($3.15) EPS and FY2025 earnings at ($1.75) EPS.

Separately, Morgan Stanley raised their price objective on Atea Pharmaceuticals from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Monday, August 15th.

Atea Pharmaceuticals Trading Down 0.8 %

Shares of AVIR stock opened at $6.26 on Wednesday. The company has a market cap of $521.20 million, a PE ratio of 56.91 and a beta of -0.02. The company’s fifty day simple moving average is $7.95 and its 200-day simple moving average is $7.24. Atea Pharmaceuticals has a 52 week low of $5.31 and a 52 week high of $46.91.

Atea Pharmaceuticals (NASDAQ:AVIRGet Rating) last issued its earnings results on Monday, August 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.14. Atea Pharmaceuticals had a return on equity of 2.36% and a net margin of 34.49%. During the same quarter in the previous year, the company posted $0.02 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. purchased a new stake in Atea Pharmaceuticals during the 1st quarter worth $14,812,000. Schroder Investment Management Group increased its position in shares of Atea Pharmaceuticals by 9,984.5% during the fourth quarter. Schroder Investment Management Group now owns 1,541,106 shares of the company’s stock worth $13,777,000 after acquiring an additional 1,525,824 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Atea Pharmaceuticals by 16.4% in the first quarter. Vanguard Group Inc. now owns 6,729,203 shares of the company’s stock worth $48,584,000 after acquiring an additional 947,321 shares in the last quarter. BlackRock Inc. boosted its holdings in Atea Pharmaceuticals by 14.6% in the first quarter. BlackRock Inc. now owns 6,624,693 shares of the company’s stock valued at $47,830,000 after purchasing an additional 843,496 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Atea Pharmaceuticals by 2,646.9% during the 4th quarter. Renaissance Technologies LLC now owns 620,800 shares of the company’s stock valued at $5,550,000 after purchasing an additional 598,200 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

About Atea Pharmaceuticals

(Get Rating)

Atea Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focused on discovering, developing, and commercializing antiviral therapeutics for patients suffering from viral infections. Its lead product candidate is AT-527, an antiviral drug candidate that is in Phase II clinical trial for the treatment of patients with COVID-19.

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Earnings History and Estimates for Atea Pharmaceuticals (NASDAQ:AVIR)

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