- Aerovate Therapeutics announces a merger-triggered $69.6 million special dividend.
- The dividend, equivalent to $2.40 per share, is contingent on the merger with Jade Biosciences.
- Analysts maintain a cautious outlook with a "Hold" recommendation and near-term price target.
Aerovate Therapeutics (AVTE, Financial) has unveiled plans for a substantial $69.6 million special cash dividend, equivalent to approximately $2.40 per share. This strategic move is closely tied to its much-anticipated merger with Jade Biosciences. The dividend is set to be disbursed to shareholders who are on record as of April 25, 2025, assuming the merger successfully closes as expected on April 28, 2025.
Wall Street Analysts Forecast
In a survey of one-year price targets from three industry analysts, the average target price for Aerovate Therapeutics Inc (AVTE, Financial) is established at $2.33, with estimates spanning a high of $3.00 and a low of $2.00. This average target suggests a downside potential of 14.84% from the current market price of $2.74. For a more comprehensive look into these projections, visit the Aerovate Therapeutics Inc (AVTE) Forecast page.
Turning to overall market sentiment, the consensus from four brokerage firms positions Aerovate Therapeutics Inc (AVTE, Financial) with an average brokerage recommendation of 3.0, reflecting a "Hold" status. This rating is part of a broader scale ranging from 1 to 5, where 1 indicates a Strong Buy and 5 suggests a Sell.
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