AveXis’ (AVXS) Buy Rating Reiterated at Chardan Capital
AveXis, Inc. (NASDAQ:AVXS)‘s stock had its “buy” rating reiterated by investment analysts at Chardan Capital in a report released on Friday, Marketbeat reports. They currently have a $130.00 target price on the stock, up from their previous target price of $102.50. Chardan Capital’s target price suggests a potential upside of 45.27% from the company’s current price.
Several other research analysts also recently commented on AVXS. Jefferies Group LLC reissued a “buy” rating and set a $92.00 target price on shares of AveXis in a research note on Wednesday, April 19th. Citigroup Inc. started coverage on AveXis in a research note on Tuesday, May 23rd. They set a “buy” rating and a $90.00 target price for the company. BMO Capital Markets reissued an “outperform” rating and set a $95.00 target price on shares of AveXis in a research note on Friday, June 16th. Zacks Investment Research raised AveXis from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Sanford C. Bernstein started coverage on AveXis in a research note on Thursday, July 27th. They set an “outperform” rating and a $108.00 target price for the company. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $100.70.
AveXis (NASDAQ:AVXS) opened at 89.49 on Friday. The stock’s market capitalization is $2.48 billion. AveXis has a 12 month low of $31.55 and a 12 month high of $97.77. The company’s 50-day moving average is $85.66 and its 200-day moving average is $73.89.
AveXis (NASDAQ:AVXS) last issued its earnings results on Thursday, August 10th. The company reported ($2.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by $1.10. During the same period in the previous year, the business earned ($0.68) earnings per share. Equities analysts anticipate that AveXis will post ($5.21) earnings per share for the current year.
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In other news, VP Sukumar Nagendran sold 1,780 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $81.88, for a total transaction of $145,746.40. Following the sale, the vice president now directly owns 1,780 shares in the company, valued at $145,746.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 5,340 shares of company stock worth $434,872. Company insiders own 18.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in AveXis during the fourth quarter valued at $1,193,000. Teachers Advisors LLC boosted its stake in AveXis by 602.2% in the fourth quarter. Teachers Advisors LLC now owns 52,830 shares of the company’s stock valued at $2,522,000 after buying an additional 45,306 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in AveXis during the first quarter valued at $201,000. Candriam Luxembourg S.C.A. purchased a new stake in AveXis during the first quarter valued at $1,901,000. Finally, Nationwide Fund Advisors boosted its stake in AveXis by 9.0% in the first quarter. Nationwide Fund Advisors now owns 3,444 shares of the company’s stock valued at $262,000 after buying an additional 284 shares during the period. Institutional investors own 91.85% of the company’s stock.
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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