AveXis Inc. (NASDAQ:AVXS) shares dropped 6.4% on Thursday . The company traded as low as $37.23 and last traded at $37.27, with a volume of 194,814 shares trading hands. The stock had previously closed at $39.80.

AVXS has been the subject of a number of analyst reports. Jefferies Group raised AveXis from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Friday, August 12th. Goldman Sachs Group Inc. raised their price objective on AveXis from $28.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, May 13th. Zacks Investment Research raised AveXis from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, May 12th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $60.00 price objective on shares of AveXis in a research report on Monday, May 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $45.40.

The company’s 50 day moving average is $37.54 and its 200 day moving average is $31.97. The firm’s market cap is $836.52 million.

AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.09. Analysts anticipate that AveXis Inc. will post ($3.38) 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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