Q3 2016 EPS Estimates for AveXis Inc. (AVXS) Increased by Analyst
AveXis Inc. (NASDAQ:AVXS) – Analysts at Jefferies Group increased their Q3 2016 earnings per share (EPS) estimates for AveXis in a report issued on Monday. Jefferies Group analyst B. Amin now expects that the firm will post earnings per share of ($0.70) for the quarter, up from their previous forecast of ($0.73). Jefferies Group has a “Buy” rating and a $50.00 price objective on the stock. Jefferies Group also issued estimates for AveXis’ Q4 2016 earnings at ($0.64) EPS, FY2016 earnings at ($3.11) EPS, FY2017 earnings at ($2.85) EPS, FY2018 earnings at ($2.91) EPS, FY2019 earnings at ($2.96) EPS and FY2020 earnings at ($0.32) EPS.
AveXis (NASDAQ:AVXS) last announced its earnings results on Thursday, August 11th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.09.
Several other research analysts have also recently weighed in on AVXS. Zacks Investment Research upgraded shares of AveXis from a “sell” rating to a “hold” rating in a report on Friday, June 24th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of AveXis in a report on Friday, August 12th. Finally, Wells Fargo & Co. initiated coverage on shares of AveXis in a report on Friday, July 15th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.00.
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Shares of AveXis (NASDAQ:AVXS) traded down 4.76% on Wednesday, reaching $42.63. 368,260 shares of the company traded hands. The stock has a 50 day moving average of $37.48 and a 200 day moving average of $34.03. The stock’s market cap is $981.04 million. AveXis has a 52-week low of $17.40 and a 52-week high of $47.76.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVXS. Foresite Capital Management III LLC bought a new position in AveXis during the first quarter valued at $4,582,000. TIAA CREF Investment Management LLC acquired a new position in shares of AveXis during the first quarter valued at approximately $253,000. BlackRock Inc. acquired a new position in shares of AveXis during the first quarter valued at approximately $563,000. BlackRock Group LTD acquired a new position in shares of AveXis during the first quarter valued at approximately $2,223,000. Finally, BlackRock Fund Advisors acquired a new position in shares of AveXis during the first quarter valued at approximately $3,245,000. Institutional investors own 54.46% of the company’s stock.
In other news, insider Paul B. Manning sold 289,855 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $34.50, for a total value of $9,999,997.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
AveXis Company Profile
AveXis, Inc, formerly Biolife Cell Bank, Inc, is a clinical-stage gene therapy company. The Company operates through 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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