AveXis, Inc. (NASDAQ:AVXS) Earns Buy Rating from BMO Capital Markets
AveXis, Inc. (NASDAQ:AVXS)‘s stock had its “buy” rating reissued by equities research analysts at BMO Capital Markets in a note issued to investors on Friday. They currently have a $123.00 target price on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 34.19% from the stock’s current price.
Several other equities research analysts have also commented on AVXS. Jefferies Group LLC reissued a “buy” rating and set a $92.00 price target on shares of AveXis in a research note on Wednesday, April 19th. Citigroup Inc. initiated coverage on AveXis in a research note on Tuesday, May 23rd. They set a “buy” rating and a $90.00 price target on the stock. Chardan Capital set a $103.00 price target on AveXis and gave the stock a “buy” rating in a research note on Sunday, June 18th. 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 initiated coverage on AveXis in a research note on Thursday, July 27th. They set an “outperform” rating and a $108.00 price target on the stock. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $96.40.
AveXis (NASDAQ:AVXS) opened at 91.66 on Friday. The firm’s market cap is $2.55 billion. AveXis has a one year low of $31.55 and a one year high of $97.77. The firm’s 50 day moving average price is $85.30 and its 200-day moving average price is $73.61.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($2.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.06) by $1.01. During the same period last year, the firm earned ($0.68) earnings per share. Equities analysts predict that AveXis will post ($4.21) EPS for the current fiscal year.
In related news, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $81.88, for a total transaction of $145,746.40. Following the completion of the transaction, the vice president now directly owns 1,780 shares in the company, valued at approximately $145,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 5,340 shares of company stock valued at $434,872 over the last 90 days. Insiders own 18.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of AveXis by 34.7% in the second quarter. BlackRock Inc. now owns 2,301,229 shares of the company’s stock valued at $189,069,000 after buying an additional 592,843 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. Point72 Asset Management L.P. increased its position in shares of 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 in the last quarter. Alliancebernstein L.P. increased its position in shares of AveXis by 4,448.8% in the second quarter. Alliancebernstein L.P. now owns 564,966 shares of the company’s stock valued at $46,418,000 after buying an additional 552,546 shares in the last quarter. Finally, Marshall Wace North America L.P. increased its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 90.68% 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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