Axovant Sciences Ltd. (AXON) Lifted to Strong-Buy at Zacks Investment Research
Axovant Sciences Ltd. (NYSE:AXON) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The firm presently has a $15.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 14.24% from the stock’s current price.
According to Zacks, “Axovant Sciences Ltd. is a biopharmaceutical company which focuses on the acquisition, development and commercialization of therapeutics for the treatment of neurodegenerative disorders. Its product candidate includes RVT-101 which is in different clinical trial for the treatment of Alzheimer’s disease and other forms of dementia. Axovant Sciences Ltd. is based in Hamilton, Bermuda. “
A number of other research firms also recently weighed in on AXON. HC Wainwright restated a “buy” rating on shares of Axovant Sciences in a report on Wednesday, August 17th. JMP Securities restated an “outperform” rating and issued a $36.00 target price on shares of Axovant Sciences in a report on Tuesday, August 16th. Jefferies Group restated a “buy” rating and issued a $31.00 target price on shares of Axovant Sciences in a report on Monday, September 26th. Evercore ISI restated a “buy” rating and issued a $29.00 target price on shares of Axovant Sciences in a report on Friday, September 23rd. Finally, Robert W. Baird restated an “outperform” rating and issued a $29.00 target price on shares of Axovant Sciences in a report on Friday, September 23rd. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Axovant Sciences has an average rating of “Buy” and a consensus target price of $26.33.
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Axovant Sciences (NYSE:AXON) traded up 1.16% during trading on Tuesday, reaching $13.13. 170,605 shares of the company were exchanged. Axovant Sciences has a 1-year low of $8.86 and a 1-year high of $21.30. The stock’s market capitalization is $1.30 billion. The company’s 50-day moving average price is $15.10 and its 200-day moving average price is $13.73.
Axovant Sciences (NYSE:AXON) last posted its earnings results on Monday, August 15th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by $0.02. On average, equities analysts forecast that Axovant Sciences will post ($1.68) EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Janus Capital Management LLC boosted its stake in Axovant Sciences by 0.6% in the second quarter. Janus Capital Management LLC now owns 4,649,151 shares of the company’s stock valued at $59,694,000 after buying an additional 28,512 shares during the period. Franklin Resources Inc. boosted its stake in Axovant Sciences by 5.9% in the second quarter. Franklin Resources Inc. now owns 1,270,682 shares of the company’s stock valued at $16,316,000 after buying an additional 70,900 shares during the period. Ghost Tree Capital LLC bought a new stake in Axovant Sciences during the second quarter valued at about $7,383,000. BlackRock Fund Advisors boosted its stake in Axovant Sciences by 69.2% in the second quarter. BlackRock Fund Advisors now owns 574,250 shares of the company’s stock valued at $7,373,000 after buying an additional 234,904 shares during the period. Finally, Citadel Advisors LLC boosted its stake in Axovant Sciences by 850.3% in the second quarter. Citadel Advisors LLC now owns 572,679 shares of the company’s stock valued at $7,353,000 after buying an additional 512,413 shares during the period. 29.45% of the stock is owned by hedge funds and other institutional investors.
About Axovant Sciences
Axovant Sciences Ltd., formerly Roivant Neurosciences Ltd., is a clinical-stage biopharmaceutical company focused on acquiring, developing and commercializing therapeutics for the treatment of dementia. The Company intends to develop a pipeline of product candidates to address the cognitive, functional and behavioral aspects of dementia and related neurological disorders.
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