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.

COPYRIGHT VIOLATION WARNING: “AveXis’ (AVXS) “Overweight” Rating Reiterated at Morgan Stanley” was reported by Daily Political and is the property of of Daily Political. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.dailypolitical.com/2017/08/09/avexis-avxs-overweight-rating-reiterated-at-morgan-stanley.html.

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.

About AveXis

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.

Analyst Recommendations for AveXis (NASDAQ:AVXS)

Receive News & Ratings for AveXis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AveXis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.