AveXis (AVXS) Price Target Raised to $152.00
AveXis (NASDAQ:AVXS) had its target price lifted by investment analysts at Barclays from $124.00 to $152.00 in a research note issued to investors on Friday. The firm currently has an “overweight” rating on the stock. Barclays’ target price would suggest a potential upside of 39.71% from the company’s previous close.
A number of other equities research analysts also recently issued reports on AVXS. Jefferies Group upped their price objective on shares of AveXis to $118.00 and gave the stock a “buy” rating in a research report on Thursday, October 12th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $130.00 price objective (up from $123.00) on shares of AveXis in a research report on Thursday, October 12th. Zacks Investment Research raised shares of AveXis from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Tuesday, October 24th. Canaccord Genuity started coverage on shares of AveXis in a research report on Thursday, October 26th. They issued a “hold” rating and a $110.00 price objective for the company. Finally, Chardan Capital reaffirmed a “buy” rating on shares of AveXis in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $115.37.
Shares of AveXis (AVXS) traded up $2.61 during mid-day trading on Friday, reaching $108.80. 319,944 shares of the company’s stock were exchanged, compared to its average volume of 691,090. AveXis has a twelve month low of $53.94 and a twelve month high of $128.00. The company has a market cap of $3,910.00 and a P/E ratio of -19.53.
In other news, insider Brian K. Kaspar sold 15,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $94.73, for a total transaction of $1,420,950.00. Following the completion of the transaction, the insider now directly owns 1,826,502 shares of the company’s stock, valued at approximately $173,024,534.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew F. Knudten sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $118.13, for a total transaction of $236,260.00. Following the transaction, the vice president now directly owns 7,000 shares of the company’s stock, valued at $826,910. The disclosure for this sale can be found here. Insiders have sold a total of 57,560 shares of company stock valued at $6,160,062 over the last three months. Insiders own 18.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. boosted its holdings in AveXis by 123.4% in the 4th quarter. Eagle Asset Management Inc. now owns 354,154 shares of the company’s stock worth $39,274,000 after buying an additional 195,626 shares during the period. State of Wisconsin Investment Board boosted its holdings in AveXis by 55.0% in the 4th quarter. State of Wisconsin Investment Board now owns 24,800 shares of the company’s stock worth $2,745,000 after buying an additional 8,800 shares during the period. Advisory Research Inc. boosted its holdings in AveXis by 25.5% in the 4th quarter. Advisory Research Inc. now owns 16,821 shares of the company’s stock worth $1,862,000 after buying an additional 3,423 shares during the period. First Trust Advisors LP boosted its holdings in AveXis by 9.4% in the 4th quarter. First Trust Advisors LP now owns 27,082 shares of the company’s stock worth $2,997,000 after buying an additional 2,325 shares during the period. Finally, First Dallas Securities Inc. bought a new position in AveXis in the 4th quarter worth approximately $427,000. 81.42% of the stock is owned by institutional investors.
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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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