AveXis Inc. (AVXS) Shares Down 5.6%
AveXis Inc. (NASDAQ:AVXS)’s share price dropped 5.6% on Monday . The company traded as low as $35.17 and last traded at $35.51, with a volume of 144,118 shares. The stock had previously closed at $37.63.
AVXS has been the subject of a number of analyst reports. Zacks Investment Research cut AveXis from a “hold” rating to a “sell” rating in a report on Wednesday, June 1st. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price target on shares of AveXis in a report on Monday, May 9th. Goldman Sachs Group Inc. increased their target price on AveXis from $28.00 to $47.00 and gave the company a “buy” rating in a report on Friday, May 13th. Wells Fargo & Co. began coverage on AveXis in a report on Friday, July 15th. They set a “market perform” rating for the company. Finally, Jefferies Group cut AveXis from a “buy” rating to a “hold” rating and increased their target price for the company from $39.00 to $42.00 in a report on Wednesday, June 22nd. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $43.80.
The company’s 50-day moving average price is $39.00 and its 200 day moving average price is $31.10. The stock’s market capitalization is $819.26 million.
AveXis (NASDAQ:AVXS) last released its quarterly earnings results on Thursday, May 12th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by $0.89. Equities analysts expect that AveXis Inc. will post ($3.65) EPS for the current fiscal 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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