Jefferies Group Raises AveXis Inc. (AVXS) Price Target to $58.00
AveXis Inc. (NASDAQ:AVXS) had its price target upped by research analysts at Jefferies Group from $50.00 to $58.00 in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the stock. Jefferies Group’s price target indicates a potential upside of 18.44% from the stock’s previous close.
AVXS has been the topic of a number of other research reports. BMO Capital Markets reissued an “outperform” rating and issued a $52.00 price objective on shares of AveXis in a report on Monday. Zacks Investment Research downgraded shares of AveXis from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. Wells Fargo & Co. raised shares of AveXis from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 17th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $60.00 price target on shares of AveXis in a report on Friday, August 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $52.80.
Shares of AveXis (NASDAQ:AVXS) traded down 0.3782% during trading on Wednesday, hitting $48.7848. 124,113 shares of the stock were exchanged. The stock’s 50 day moving average price is $40.16 and its 200 day moving average price is $36.16. AveXis has a 52 week low of $17.40 and a 52 week high of $50.19. The firm’s market capitalization is $1.12 billion.
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AveXis (NASDAQ:AVXS) last posted its quarterly earnings data on Thursday, August 11th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.09. On average, equities analysts predict that AveXis will post ($3.30) earnings per share for the current year.
In other news, insider Paul B. Manning sold 289,855 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $9,999,997.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several hedge funds have recently modified their holdings of AVXS. American International Group Inc. bought a new stake in shares of AveXis during the second quarter worth about $106,000. Nationwide Fund Advisors bought a new stake in shares of AveXis during the second quarter worth about $120,000. TD Asset Management Inc. bought a new stake in shares of AveXis during the second quarter worth about $259,000. Teachers Advisors Inc. raised its stake in shares of AveXis by 74.1% in the second quarter. Teachers Advisors Inc. now owns 7,524 shares of the company’s stock worth $286,000 after buying an additional 3,202 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of AveXis by 2.4% in the second quarter. California State Teachers Retirement System now owns 10,138 shares of the company’s stock worth $385,000 after buying an additional 238 shares in the last quarter. 54.46% of the stock is owned by hedge funds and other institutional investors.
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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