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 report released on Tuesday. The brokerage presently has a $15.00 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 14.24% from the company’s previous close.
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. “
Other analysts have also issued research reports about the stock. HC Wainwright reiterated a “buy” rating on shares of Axovant Sciences in a research note on Wednesday, August 17th. Leerink Swann reiterated a “buy” rating on shares of Axovant Sciences in a research note on Thursday, June 30th. Jefferies Group reiterated a “buy” rating and set a $31.00 price objective on shares of Axovant Sciences in a research note on Monday, September 26th. Evercore ISI reiterated a “buy” rating and set a $29.00 price objective on shares of Axovant Sciences in a research note on Friday, September 23rd. Finally, Robert W. Baird reiterated an “outperform” rating and set a $29.00 price objective on shares of Axovant Sciences in a research note on Friday, September 23rd. One equities 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 company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $26.33.
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Axovant Sciences (NYSE:AXON) traded up 1.16% during mid-day trading on Tuesday, reaching $13.13. 170,605 shares of the company traded hands. The stock’s market capitalization is $1.30 billion. The firm’s 50-day moving average is $15.10 and its 200 day moving average is $13.73. Axovant Sciences has a 52-week low of $8.86 and a 52-week high of $21.30.
Axovant Sciences (NYSE:AXON) last posted its quarterly earnings data on Monday, August 15th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by $0.02. On average, equities research analysts expect that Axovant Sciences will post ($1.68) earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in Axovant Sciences by 0.6% in the first quarter. Franklin Resources Inc. now owns 1,199,782 shares of the company’s stock worth $13,773,000 after buying an additional 7,603 shares in the last quarter. BlackRock Inc. increased its position in shares of Axovant Sciences by 4.7% in the first quarter. BlackRock Inc. now owns 36,659 shares of the company’s stock valued at $421,000 after buying an additional 1,659 shares during the period. BlackRock Group LTD increased its position in shares of Axovant Sciences by 2.1% in the first quarter. BlackRock Group LTD now owns 148,704 shares of the company’s stock valued at $1,707,000 after buying an additional 3,126 shares during the period. VHCP Management II LLC purchased a new position in shares of Axovant Sciences during the first quarter valued at about $4,932,000. Finally, Sabby Management LLC purchased a new position in shares of Axovant Sciences during the first quarter valued at about $391,000. 29.45% of the stock is owned by hedge funds and other institutional investors.
Axovant Sciences Company Profile
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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