AveXis Inc. (AVXS) Stock Rating Reaffirmed by BMO Capital Markets
AveXis Inc. (NASDAQ:AVXS)‘s stock had its “outperform” rating reiterated by analysts at BMO Capital Markets in a research note issued on Monday. They currently have a $52.00 price target on the stock. BMO Capital Markets’ price objective indicates a potential upside of 9.45% from the company’s current price.
Several other equities analysts also recently weighed in on AVXS. Zacks Investment Research upgraded AveXis from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Jefferies Group downgraded AveXis from a “buy” rating to a “hold” rating and increased their target price for the stock from $39.00 to $42.00 in a research report on Wednesday, June 22nd. They noted that the move was a valuation call. Wells Fargo & Co. initiated coverage on AveXis in a research report on Friday, July 15th. They set a “market perform” rating on the stock. Finally, Chardan Capital restated a “buy” rating and issued a $60.00 price objective on shares of AveXis in a report on Friday, August 12th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $51.20.
AveXis (NASDAQ:AVXS) traded up 3.399% during midday trading on Monday, reaching $49.125. The company had a trading volume of 624,809 shares. AveXis has a 12 month low of $17.40 and a 12 month high of $49.72. The firm’s 50-day moving average price is $39.67 and its 200 day moving average price is $35.74. The firm’s market capitalization is $1.13 billion.
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AveXis (NASDAQ:AVXS) last released its earnings results on Thursday, August 11th. The company reported ($0.68) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.77) by $0.09. Equities analysts anticipate that AveXis will post ($3.30) earnings per share for the current fiscal year.
In other news, insider Paul B. Manning sold 289,855 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $34.50, for a total value of $9,999,997.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Large investors have recently bought and sold shares of the stock. Deerfield Management Co. bought a new stake in AveXis during the first quarter worth about $60,928,000. VHCP Management II LLC bought a new stake in AveXis during the first quarter worth about $24,501,000. FMR LLC raised its stake in AveXis by 212.8% in the second quarter. FMR LLC now owns 688,353 shares of the company’s stock worth $26,171,000 after buying an additional 468,279 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in AveXis by 59.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 637,931 shares of the company’s stock worth $24,254,000 after buying an additional 237,931 shares during the period. Finally, RTW Investments LLC raised its stake in AveXis by 0.6% in the second quarter. RTW Investments LLC now owns 476,367 shares of the company’s stock worth $18,111,000 after buying an additional 2,993 shares during the period. Institutional investors and hedge funds own 54.46% of the company’s stock.
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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