Avidity Biosciences Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

In This Article:

Avidity Biosciences (NASDAQ:RNA) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$2.34m (down 17% from 3Q 2023).

  • Net loss: US$80.4m (loss widened by 54% from 3Q 2023).

  • US$0.65 loss per share.

earnings-and-revenue-growth
NasdaqGM:RNA Earnings and Revenue Growth November 9th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Avidity Biosciences EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 49%. Earnings per share (EPS) exceeded analyst estimates by 9.1%.

Looking ahead, revenue is forecast to grow 74% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in the US.

Performance of the American Biotechs industry.

The company's shares are up 12% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Avidity Biosciences (1 makes us a bit uncomfortable!) that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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