Aduro BioTech, Inc. (ADRO) Stock Faces Higher Risks Forward After Forming Multiple Bottom

April 24, 2018 - By reb123z

The stock of Aduro BioTech, Inc. (ADRO) shows a multiple bottoms pattern with $6.39 target or 8.00 % below today’s $6.95 share price. The 6 months chart pattern indicates high risk for the $545.71M company. It was reported on Apr, 24 by If the $6.39 price target is reached, the company will be worth $43.66M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

It closed at $6.95 lastly. It is down 11.85% since April 24, 2017 and is downtrending. It has underperformed by 23.40% the S&P500.

Analysts await Aduro BioTech, Inc. (NASDAQ:ADRO) to report earnings on May, 1. They expect $-0.30 EPS, up 6.25 % or $0.02 from last year’s $-0.32 per share. After $-0.35 actual EPS reported by Aduro BioTech, Inc. for the previous quarter, Wall Street now forecasts -14.29 % EPS growth.

Aduro BioTech, Inc. (NASDAQ:ADRO) Ratings Coverage

Among 4 analysts covering Aduro BioTech (NASDAQ:ADRO), 3 have Buy rating, 1 Sell and 0 Hold. Therefore 75% are positive. Aduro BioTech had 6 analyst reports since October 30, 2017 according to SRatingsIntel. Bank of America maintained it with “Underperform” rating and $8 target in Friday, March 2 report. As per Wednesday, November 1, the company rating was maintained by H.C. Wainwright. The stock of Aduro BioTech, Inc. (NASDAQ:ADRO) earned “Buy” rating by H.C. Wainwright on Wednesday, December 13. On Monday, October 30 the stock rating was initiated by Oppenheimer with “Buy”. Oppenheimer maintained the stock with “Outperform” rating in Wednesday, December 13 report.

Aduro BioTech, Inc. (NASDAQ:ADRO) Ratings Chart

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