BMO Capital Markets Reiterates Outperform Rating for AveXis Inc (AVXS)
AveXis Inc (NASDAQ:AVXS)‘s stock had its “outperform” rating restated by stock analysts at BMO Capital Markets in a report issued on Friday. They currently have a $95.00 price objective on the stock, up from their previous price objective of $85.00. BMO Capital Markets’ price objective would suggest a potential upside of 19.12% from the stock’s previous close.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of AveXis from a “hold” rating to a “sell” rating in a report on Friday, January 13th. Chardan Capital reissued a “buy” rating and issued a $100.00 price target (up from $85.00) on shares of AveXis in a report on Tuesday, February 7th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. AveXis presently has a consensus rating of “Buy” and an average target price of $85.33.
Shares of AveXis (NASDAQ:AVXS) opened at 79.75 on Friday. The firm’s market capitalization is $2.21 billion. AveXis has a 52 week low of $20.51 and a 52 week high of $85.98. The stock has a 50 day moving average of $62.69 and a 200-day moving average of $53.26.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings results on Thursday, March 16th. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by $0.12. During the same quarter in the previous year, the company earned ($1.82) EPS. Analysts expect that AveXis will post ($3.93) earnings per share for the current year.
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Several institutional investors have recently added to or reduced their stakes in AVXS. FMR LLC increased its position in AveXis by 67.6% in the fourth quarter. FMR LLC now owns 4,151,443 shares of the company’s stock worth $198,148,000 after buying an additional 1,674,424 shares during the last quarter. Boxer Capital LLC increased its position in AveXis by 243.2% in the fourth quarter. Boxer Capital LLC now owns 1,028,763 shares of the company’s stock worth $49,103,000 after buying an additional 729,007 shares during the last quarter. Perceptive Advisors LLC acquired a new position in AveXis during the fourth quarter worth approximately $22,602,000. State Street Corp increased its position in AveXis by 619.2% in the fourth quarter. State Street Corp now owns 532,312 shares of the company’s stock worth $25,408,000 after buying an additional 458,295 shares during the last quarter. Finally, RA Capital Management LLC increased its position in AveXis by 29.3% in the third quarter. RA Capital Management LLC now owns 1,732,274 shares of the company’s stock worth $71,387,000 after buying an additional 392,892 shares during the last quarter. 68.31% of the stock is owned by institutional investors.
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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