AveXis, Inc. (AVXS) Forecasted to Post Q3 2018 Earnings of ($1.58) Per Share
AveXis, Inc. (NASDAQ:AVXS) – Stock analysts at Jefferies Group issued their Q3 2018 EPS estimates for AveXis in a research report issued on Thursday. Jefferies Group analyst B. Amin expects that the company will earn ($1.58) per share for the quarter. Jefferies Group currently has a “Buy” rating and a $118.00 price objective on the stock. Jefferies Group also issued estimates for AveXis’ Q4 2018 earnings at ($0.96) EPS.
A number of other research firms have also recently issued reports on AVXS. BMO Capital Markets reissued a “buy” rating and issued a $123.00 price target on shares of AveXis in a research note on Friday, August 11th. Bank of America Corporation lowered their target price on shares of AveXis from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley reaffirmed an “overweight” rating and set a $118.00 target price on shares of AveXis in a research note on Wednesday, August 9th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $134.00 target price (up previously from $89.00) on shares of AveXis in a research note on Tuesday, September 5th. Finally, Evercore ISI initiated coverage on shares of AveXis in a research note on Wednesday, August 16th. They set an “outperform” rating and a $120.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $108.26.
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Shares of AveXis (AVXS) opened at $95.79 on Monday. AveXis has a one year low of $44.68 and a one year high of $108.27.
AveXis (NASDAQ:AVXS) last released its quarterly earnings results on Thursday, November 9th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.04). During the same quarter in the previous year, the business earned ($0.87) EPS.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its holdings in AveXis by 25.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 108,513 shares of the company’s stock valued at $10,497,000 after buying an additional 21,993 shares during the period. Wells Fargo & Company MN raised its holdings in AveXis by 59.6% in the 3rd quarter. Wells Fargo & Company MN now owns 26,170 shares of the company’s stock valued at $2,531,000 after buying an additional 9,769 shares during the period. Amalgamated Bank raised its holdings in AveXis by 19.6% in the 3rd quarter. Amalgamated Bank now owns 3,187 shares of the company’s stock valued at $308,000 after buying an additional 523 shares during the period. Legal & General Group Plc raised its holdings in AveXis by 76.4% in the 3rd quarter. Legal & General Group Plc now owns 10,283 shares of the company’s stock valued at $1,000,000 after buying an additional 4,455 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in AveXis by 41.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 158,528 shares of the company’s stock valued at $15,180,000 after buying an additional 46,835 shares during the period. Hedge funds and other institutional investors own 94.96% of the company’s stock.
In other news, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction on Friday, September 1st. The stock was sold at an average price of $93.25, for a total transaction of $165,985.00. Following the transaction, the vice president now owns 1,780 shares in the company, valued at approximately $165,985. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $101.23, for a total value of $1,518,450.00. Following the transaction, the insider now owns 1,841,019 shares in the company, valued at approximately $186,366,353.37. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,340 shares of company stock worth $3,559,683. Insiders own 18.60% of the company’s stock.
AveXis Company Profile
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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