AveXis (AVXS) Rating Reiterated by Credit Suisse Group
Credit Suisse Group restated their outperform rating on shares of AveXis (NASDAQ:AVXS) in a report published on Wednesday. The firm currently has a $139.00 price target on the stock, up from their previous price target of $134.00.
Several other analysts also recently issued reports on AVXS. Chardan Capital reiterated a buy rating on shares of AveXis in a research note on Thursday, November 2nd. Royal Bank of Canada reiterated a hold rating and set a $92.00 price target on shares of AveXis in a research note on Thursday, November 2nd. Bank of America decreased their price target on AveXis from $115.00 to $112.00 and set a buy rating for the company in a research note on Friday, November 10th. ValuEngine downgraded AveXis from a hold rating to a sell rating in a research note on Friday, December 1st. Finally, BidaskClub downgraded AveXis from a hold rating to a sell rating in a research note on Thursday, December 14th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $123.45.
Shares of AveXis (AVXS) opened at $130.19 on Wednesday. The stock has a market capitalization of $4,781.23, a PE ratio of -18.06 and a beta of 2.02. AveXis has a 52 week low of $63.61 and a 52 week high of $132.66.
In related news, VP Andrew F. Knudten sold 2,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $94.48, for a total transaction of $188,960.00. Following the completion of the sale, the vice president now owns 7,000 shares in the company, valued at approximately $661,360. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian K. Kaspar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $109.75, for a total value of $1,646,250.00. Following the sale, the insider now owns 1,808,386 shares of the company’s stock, valued at approximately $198,470,363.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,780 shares of company stock valued at $4,570,422. 18.60% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC lifted its position in shares of AveXis by 2.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 20,943 shares of the company’s stock worth $1,721,000 after acquiring an additional 598 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of AveXis by 210.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,961 shares of the company’s stock worth $1,312,000 after acquiring an additional 10,827 shares during the period. California State Teachers Retirement System lifted its position in shares of AveXis by 280.6% in the 2nd quarter. California State Teachers Retirement System now owns 43,538 shares of the company’s stock worth $3,577,000 after acquiring an additional 32,100 shares during the period. Ameritas Investment Partners Inc. lifted its position in shares of AveXis by 331.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,112 shares of the company’s stock worth $174,000 after acquiring an additional 1,622 shares during the period. Finally, Strs Ohio bought a new stake in shares of AveXis in the 3rd quarter worth approximately $116,000. Hedge funds and other institutional investors own 82.66% 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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