AveXis Inc (AVXS) Receives Average Recommendation of “Buy” from Analysts
Shares of AveXis Inc (NASDAQ:AVXS) have earned a consensus rating of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $93.83.
A number of equities analysts have commented on AVXS shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $92.00 target price on shares of AveXis in a research note on Wednesday, April 19th. Citigroup Inc. started coverage on shares of AveXis in a research note on Tuesday, May 23rd. They set a “buy” rating and a $90.00 target price on the stock. Chardan Capital reaffirmed a “buy” rating and set a $100.00 target price on shares of AveXis in a research note on Friday, March 17th. Goldman Sachs Group, Inc. (The) lifted their target price on shares of AveXis from $91.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, March 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $95.00 target price (up from $85.00) on shares of AveXis in a research note on Friday, March 17th.
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AveXis (AVXS) traded down 2.076% during mid-day trading on Tuesday, reaching $70.535. 330,673 shares of the company were exchanged. The company’s market capitalization is $1.96 billion. AveXis has a 1-year low of $31.55 and a 1-year high of $85.98. The company has a 50 day moving average of $74.27 and a 200-day moving average of $65.34.
AveXis (NASDAQ:AVXS) last issued its earnings results on Thursday, May 11th. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by $0.13. During the same period in the prior year, the firm earned ($1.24) EPS. On average, equities research analysts forecast that AveXis will post ($4.56) EPS for the current year.
In other news, VP Sukumar Nagendran sold 1,780 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $81.39, for a total value of $144,874.20. Following the sale, the vice president now directly owns 1,780 shares of the company’s stock, valued at approximately $144,874.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 5,341 shares of company stock worth $406,682 over the last three months.
Several large investors have recently added to or reduced their stakes in AVXS. Quantitative Systematic Strategies LLC bought a new stake in AveXis during the first quarter worth about $201,000. Candriam Luxembourg S.C.A. bought a new stake in AveXis during the first quarter worth about $1,901,000. FMR LLC increased its stake in AveXis by 67.6% in the fourth quarter. FMR LLC now owns 4,151,443 shares of the company’s stock worth $198,148,000 after buying an additional 1,674,424 shares during the period. Franklin Resources Inc. increased its stake in AveXis by 5.8% in the fourth quarter. Franklin Resources Inc. now owns 1,196,960 shares of the company’s stock worth $57,131,000 after buying an additional 65,550 shares during the period. Finally, Opus Point Partners Management LLC bought a new stake in AveXis during the fourth quarter worth about $239,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.
AveXis, Inc is a clinical-stage gene therapy company. The Company operates through the 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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