AveXis, Inc. (NASDAQ:AVXS) Given Consensus Recommendation of “Buy” by Analysts
AveXis, Inc. (NASDAQ:AVXS) has been given a consensus rating of “Buy” by the twelve research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $105.88.
AVXS has been the topic of several analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $95.00 price target on shares of AveXis in a report on Friday, June 16th. Jefferies Group LLC reaffirmed a “buy” rating on shares of AveXis in a report on Wednesday, June 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $118.00 price target on shares of AveXis in a report on Wednesday. Citigroup Inc. set a $100.00 price target on shares of AveXis and gave the company a “buy” rating in a report on Thursday, June 15th. Finally, Zacks Investment Research raised shares of AveXis from a “sell” rating to a “hold” rating in a report on Thursday, July 13th.
AveXis (NASDAQ:AVXS) traded down 1.94% during mid-day trading on Friday, reaching $89.88. 505,560 shares of the company’s stock traded hands. The company’s market cap is $2.50 billion. AveXis has a 12-month low of $31.55 and a 12-month high of $97.77. The stock has a 50 day moving average of $85.30 and a 200 day moving average of $73.61.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings results on Thursday, August 10th. The company reported ($2.07) earnings per share for the quarter, missing the consensus estimate of ($0.97) by $1.10. During the same quarter last year, the firm earned ($0.68) EPS. On average, equities research analysts predict that AveXis will post ($4.36) earnings per share for the current fiscal year.
In other news, VP Sukumar Nagendran sold 1,780 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $91.52, for a total value of $162,905.60. Following the transaction, the vice president now owns 1,780 shares of the company’s stock, valued at $162,905.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 5,340 shares of company stock worth $434,872 in the last three months. Insiders own 18.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position 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 period. Alliancebernstein L.P. increased its position in 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 during the period. FMR LLC increased its position in AveXis by 13.1% in the second quarter. FMR LLC now owns 4,705,433 shares of the company’s stock valued at $386,598,000 after buying an additional 544,475 shares during the period. Vanguard Group Inc. increased its position in AveXis by 31.8% in the second quarter. Vanguard Group Inc. now owns 1,575,205 shares of the company’s stock valued at $129,419,000 after buying an additional 380,396 shares during the period. Finally, Marshall Wace North America L.P. increased its position 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 period. 90.68% of the stock is currently owned by hedge funds and other institutional investors.
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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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