AveXis’ (AVXS) “Overweight” Rating Reiterated at Morgan Stanley
AveXis, Inc. (NASDAQ:AVXS)‘s stock had its “overweight” rating reiterated by equities researchers at Morgan Stanley in a report released on Wednesday. They presently have a $118.00 price target on the stock. Morgan Stanley’s target price would indicate a potential upside of 23.87% from the stock’s previous close.
AVXS has been the topic of a number of other research reports. Jefferies Group LLC reissued a “buy” rating and set a $92.00 price objective on shares of AveXis in a report on Thursday, May 25th. Sanford C. Bernstein began coverage on AveXis in a report on Thursday, July 27th. They set an “outperform” rating and a $108.00 price objective on the stock. Chardan Capital set a $103.00 price objective on AveXis and gave the stock a “buy” rating in a report on Sunday, June 18th. Citigroup Inc. set a $100.00 price objective on AveXis and gave the stock a “buy” rating in a report on Thursday, June 15th. Finally, Zacks Investment Research raised AveXis from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $93.60.
AveXis (AVXS) opened at 95.26 on Wednesday. The company has a 50-day moving average price of $82.78 and a 200-day moving average price of $72.39. The firm’s market cap is $2.65 billion. AveXis has a 1-year low of $31.55 and a 1-year high of $97.65.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings data on Thursday, May 11th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.94) by $0.13. During the same period last year, the firm earned ($1.24) earnings per share. On average, equities research analysts forecast that AveXis will post ($4.27) EPS for the current fiscal year.
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In other AveXis news, VP Sukumar Nagendran sold 1,780 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $81.88, for a total value of $145,746.40. Following the sale, the vice president now owns 1,780 shares of the company’s stock, valued at approximately $145,746.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 5,340 shares of company stock worth $434,872. Insiders own 18.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in AveXis by 3,055.6% in the first quarter. BlackRock Inc. now owns 1,708,386 shares of the company’s stock valued at $129,888,000 after buying an additional 1,654,248 shares during the last quarter. Marshall Wace North America L.P. boosted its stake in AveXis by 813.3% in the second quarter. Marshall Wace North America L.P. now owns 303,084 shares of the company’s stock valued at $24,853,000 after buying an additional 269,900 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in AveXis by 569.9% in the first quarter. Goldman Sachs Group Inc. now owns 227,961 shares of the company’s stock valued at $17,332,000 after buying an additional 193,934 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in AveXis by 32.8% in the first quarter. Point72 Asset Management L.P. now owns 717,514 shares of the company’s stock valued at $54,553,000 after buying an additional 177,114 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in AveXis by 11.7% in the first quarter. Vanguard Group Inc. now owns 1,194,809 shares of the company’s stock valued at $90,841,000 after buying an additional 124,750 shares during the last quarter. 90.68% of the stock is currently owned by hedge funds and other institutional investors.
AveXis, Inc is a clinical-stage gene therapy company. The Company operates through the 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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