Brokerages Anticipate Axovant Sciences Ltd. (AXON) Will Post Earnings of -$0.49 Per Share
Brokerages forecast that Axovant Sciences Ltd. (NYSE:AXON) will post ($0.49) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Axovant Sciences’ earnings, with estimates ranging from ($0.53) to ($0.43). Axovant Sciences reported earnings of ($0.38) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 28.9%. The business is scheduled to issue its next quarterly earnings results on Monday, August 21st.
On average, analysts expect that Axovant Sciences will report full year earnings of ($2.08) per share for the current financial year, with EPS estimates ranging from ($2.47) to ($1.76). For the next year, analysts expect that the company will report earnings of ($2.71) per share, with EPS estimates ranging from ($4.43) to ($0.80). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Axovant Sciences.
Axovant Sciences (NYSE:AXON) last posted its earnings results on Tuesday, June 13th. The biotechnology company reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.51) by $0.02.
A number of analysts recently issued reports on the company. Jefferies Group LLC reissued a “buy” rating and set a $31.00 price objective on shares of Axovant Sciences in a report on Friday, June 9th. Zacks Investment Research raised Axovant Sciences from a “sell” rating to a “hold” rating in a report on Thursday, March 9th. CIBC increased their price objective on Axovant Sciences from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday. Oppenheimer Holdings, Inc. increased their price objective on Axovant Sciences from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Cowen and Company reissued an “outperform” rating and set a $30.00 price objective (up previously from $22.00) on shares of Axovant Sciences in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. Axovant Sciences currently has a consensus rating of “Buy” and an average price target of $27.68.
Axovant Sciences (NYSE:AXON) traded down 11.11% during midday trading on Thursday, hitting $20.72. The stock had a trading volume of 950,173 shares. The company has a 50-day moving average price of $22.65 and a 200-day moving average price of $16.34. Axovant Sciences has a 52 week low of $11.01 and a 52 week high of $25.18. The stock’s market cap is $2.05 billion.
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In other Axovant Sciences news, insider David Hung purchased 539,375 shares of the stock in a transaction on Monday, April 17th. The shares were purchased at an average price of $18.54 per share, with a total value of $10,000,012.50. Following the acquisition, the insider now directly owns 539,375 shares in the company, valued at approximately $10,000,012.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director W Anthony Vernon purchased 53,937 shares of the stock in a transaction on Monday, April 17th. The stock was acquired at an average cost of $18.54 per share, for a total transaction of $999,991.98. Following the acquisition, the director now owns 53,937 shares in the company, valued at $999,991.98. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in Axovant Sciences by 38.9% in the first quarter. Bank of America Corp DE now owns 7,396 shares of the biotechnology company’s stock valued at $111,000 after buying an additional 2,072 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Axovant Sciences during the fourth quarter valued at $139,000. Oppenheimer & Co. Inc. acquired a new stake in Axovant Sciences during the first quarter valued at $219,000. American International Group Inc. boosted its stake in Axovant Sciences by 7.1% in the first quarter. American International Group Inc. now owns 15,052 shares of the biotechnology company’s stock valued at $225,000 after buying an additional 998 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Axovant Sciences by 34.3% in the first quarter. Wells Fargo & Company MN now owns 22,435 shares of the biotechnology company’s stock valued at $335,000 after buying an additional 5,733 shares during the last quarter.
Axovant Sciences Company Profile
Axovant Sciences Ltd. is a clinical-stage biopharmaceutical company. The Company is focused on acquiring, developing and commercializing therapeutics for the treatment of dementia, including Alzheimer’s disease and Lewy body 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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