Avalo Therapeutics Inc (NASDAQ:AVTX) reported a narrower-than-expected loss for the first quarter on Wednesday.



The company posted quarterly losses of 98 cents per share which beat the analyst consensus estimate of loss of $1.13 per share.



“The positive Phase 2 LOTUS trial results of abdakibart in HS, which demonstrated a deep and consistent clinical response across both HiSCR75 and HiSCR50 endpoints, mark the beginning of a transformative period for Avalo,” said Garry Neil, MD, Chief Executive Officer of Avalo. “With our recently secured financing, Avalo is well-positioned to advance abdakibart into a registrational phase 3 program. Our focus remains on delivering this innovative mechanism of action via a patient-friendly potential monthly dosing regimen to provide a much-needed new treatment option for those living with HS.”



Avalo Therapeutics shares closed at $19.85 on Wednesday.



These analysts made changes to their price targets on Avalo Therapeutics following earnings announcement.



<ul>
<li>HC Wainwright &amp; Co. analyst Mitchell S. Kapoor maintained the stock with a Buy and lowered the price target from $40 to $35.</li>



<li>Mizuho analyst Joseph Catanzaro maintained the stock with an Outperform rating and raised the price target from $39 to $45.</li>



<li>Wedbush analyst Robert Driscoll maintained the stock with an Outperform rating and lowered the price target from $40 to $34.</li>
</ul>



Considering buying AVTX stock? Here’s what analysts think: 



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AVTX

ARKG

SBIO

LABU

Avalo Therapeutics reported a narrower Q1 loss of 98 cents per share, beating estimates of $1.13. Positive results from the Phase 2 LOTUS trial for abdakibart signal a transformative period for the company. Analysts maintain Buy ratings but adjust price targets: HC Wainwright lowers from $40 to $35, Mizuho raises from $39 to $45, and Wedbush lowers from $40 to $34. Avalo shares closed at $19.85.

These Analysts Revise Their Forecasts On Avalo Therapeutics After Q1 Results