Raymond James initiates Avalyn Pharma stock coverage with outperform rating
Raymond James initiated coverage on Avalyn Pharma (NASDAQ:AVLN) with an outperform rating and a $60 price target, implying over 118% upside. The company is developing inhaled antifibrotics for pulmonary fibrosis, with two Phase 2 assets. Avalyn's market cap is $1.22B, and it has a strong balance sheet. Raymond James expects catalysts in late 2027, while InvestingPro suggests the stock may be overvalued.