Wall Street Analysts Just Trimmed Price Targets for These 5 Stocks

On March 19, RBC Capital analyst Luca Issi made adjustments to the price target for Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a key player in the biotechnology industry. Despite maintaining a “sector perform” rating for the company, Issi revised the price target downwards from $3.00 to $2.00. Following this announcement, the market response was notable, with the stock price experiencing a decline of 6.7797%, settling at $1.65 on the closing bell of the same day. While the revised target reflects a more conservative valuation, Issi maintains a neutral stance on the company’s prospects. Despite the adjustment in the price target, Issi remains cautious about the company’s near-term outlook and believes that Adverum Biotechnologies, Inc. (NASDAQ:ADVM) may face challenges in achieving its growth objectives. The “sector perform” rating underscores Issi’s belief that Adverum Biotechnologies, Inc. (NASDAQ:ADVM) stock may perform in line with the broader biotechnology sector. This rating reflects Issi’s neutral stance on the company’s performance and its potential for delivering shareholder value in the current market environment.