AveXis Inc. (AVXS) Shares Down 4.7%
AveXis Inc. (NASDAQ:AVXS) shares were down 4.7% on Wednesday . The stock traded as low as $37.06 and last traded at $37.12, with a volume of 145,333 shares trading hands. The stock had previously closed at $38.94.
A number of research firms have recently commented on AVXS. Zacks Investment Research downgraded shares of AveXis from a “hold” rating to a “sell” rating in a research note on Wednesday, June 1st. Chardan Capital reaffirmed a “buy” rating and set a $60.00 price objective on shares of AveXis in a research note on Monday, May 9th. Goldman Sachs Group Inc. upped their price objective on shares of AveXis from $28.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, May 13th. Finally, Jefferies Group downgraded shares of AveXis from a “buy” rating to a “hold” rating and upped their price objective for the company from $39.00 to $42.00 in a research note on Wednesday, June 22nd. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $43.80.
The firm’s market capitalization is $830.08 million. The stock has a 50 day moving average price of $41.10 and a 200-day moving average price of $30.36.
AveXis (NASDAQ:AVXS) last announced its earnings results on Thursday, May 12th. The company reported ($1.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by $0.89. On average, analysts expect that AveXis Inc. will post ($4.00) earnings per share for the current year.
AveXis, Inc, formerly Biolife Cell Bank, Inc, is a clinical-stage gene therapy company. The Company operates through developing and commercializing gene therapy treatments for patients suffering from neurological genetic diseases segment. The Company’s product candidate, AVXS-101, is its gene therapy product candidate that is in a Phase I clinical trial for the treatment of spinal muscular atrophy (SMA) Type 1, which is a genetic disorder characterized by motor neuron loss and associated muscle deterioration.
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