Chardan Capital Reiterates “Sell” Rating for Axovant Sciences Ltd (AXON)
Axovant Sciences Ltd (NYSE:AXON)‘s stock had its “sell” rating reaffirmed by analysts at Chardan Capital in a research note issued to investors on Thursday. They presently have a $8.00 price objective on the biotechnology company’s stock. Chardan Capital’s price objective suggests a potential downside of 62.51% from the company’s current price.
A number of other brokerages also recently weighed in on AXON. BidaskClub upgraded shares of Axovant Sciences from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Cowen and Company restated an “outperform” rating and set a $30.00 price objective on shares of Axovant Sciences in a research report on Wednesday, June 21st. CIBC increased their price objective on shares of Axovant Sciences from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, June 14th. Oppenheimer Holdings, Inc. increased their price objective on shares of Axovant Sciences from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, June 14th. Finally, Jefferies Group LLC assumed coverage on shares of Axovant Sciences in a research report on Monday, July 10th. They set a “buy” rating and a $40.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Axovant Sciences presently has a consensus rating of “Hold” and a consensus price target of $26.05.
Shares of Axovant Sciences (NYSE AXON) opened at 21.34 on Thursday. Axovant Sciences has a 12-month low of $11.01 and a 12-month high of $21.85. The company has a 50 day moving average of $20.44 and a 200-day moving average of $17.12. The company’s market cap is $2.29 billion.
Axovant Sciences (NYSE:AXON) last posted its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.65) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.12). Equities research analysts anticipate that Axovant Sciences will post ($2.36) earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its position in Axovant Sciences by 20.2% in the second quarter. Legal & General Group Plc now owns 6,955 shares of the biotechnology company’s stock worth $162,000 after acquiring an additional 1,168 shares during the period. Bank of America Corp DE raised its position in Axovant Sciences by 38.9% in the first quarter. Bank of America Corp DE now owns 7,396 shares of the biotechnology company’s stock worth $111,000 after acquiring an additional 2,072 shares during the period. Russell Investments Group Ltd. raised its position in Axovant Sciences by 38.5% in the second quarter. Russell Investments Group Ltd. now owns 10,041 shares of the biotechnology company’s stock worth $233,000 after acquiring an additional 2,789 shares during the period. Voya Investment Management LLC bought a new position in Axovant Sciences in the second quarter worth approximately $323,000. Finally, Laurion Capital Management LP bought a new position in Axovant Sciences in the second quarter worth approximately $336,000.
Axovant Sciences Company Profile
Axovant Sciences Ltd. is a clinical-stage biopharmaceutical company. The Company is focused on acquiring, developing and commercializing therapeutics for the treatment of dementia, including Alzheimer’s disease and Lewy body dementia. The Company intends to develop a pipeline of product candidates to address the cognitive, functional and behavioral aspects of dementia and related neurological disorders.
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