AveXis Inc. (AVXS) to Post FY2020 Earnings of $1.46 Per Share, Jefferies Group Forecasts
AveXis Inc. (NASDAQ:AVXS) – Equities research analysts at Jefferies Group increased their FY2020 earnings per share (EPS) estimates for shares of AveXis in a research note issued on Wednesday. Jefferies Group analyst B. Amin now anticipates that the brokerage will post earnings per share of $1.46 for the year, up from their previous estimate of ($0.32). Jefferies Group currently has a “Buy” rating and a $58.00 price objective on the stock.
A number of other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of AveXis from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Tuesday, August 16th. Wells Fargo & Co. assumed coverage on shares of AveXis in a report on Friday, July 15th. They set a “market perform” rating for the company. BMO Capital Markets restated an “outperform” rating and issued a $52.00 price objective on shares of AveXis in a report on Monday, October 10th. Finally, Chardan Capital restated a “buy” rating and issued a $60.00 price objective on shares of AveXis in a report on Friday, August 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $52.80.
AveXis (NASDAQ:AVXS) opened at 47.03 on Friday. AveXis has a one year low of $17.40 and a one year high of $50.19. The stock’s 50 day moving average is $40.84 and its 200-day moving average is $36.44. The firm’s market capitalization is $1.08 billion.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings data 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.
In other AveXis news, insider Paul B. Manning sold 289,855 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $34.50, for a total value of $9,999,997.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of AveXis by 2.4% in the second quarter. California State Teachers Retirement System now owns 10,138 shares of the company’s stock valued at $385,000 after buying an additional 238 shares during the period. BlackRock Investment Management LLC raised its position in shares of AveXis by 8.3% in the second quarter. BlackRock Investment Management LLC now owns 33,303 shares of the company’s stock valued at $1,266,000 after buying an additional 2,553 shares during the period. American International Group Inc. bought a new position in shares of AveXis during the second quarter valued at approximately $106,000. RTW Investments LLC raised its position in shares of AveXis by 0.6% in the second quarter. RTW Investments LLC now owns 476,367 shares of the company’s stock valued at $18,111,000 after buying an additional 2,993 shares during the period. Finally, Nationwide Fund Advisors bought a new position in shares of AveXis during the second quarter valued at approximately $120,000. Institutional investors and hedge funds own 54.46% of the company’s stock.
AveXis Company Profile
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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