Axovant Sciences Ltd. (AXON) Lifted to Buy at BidaskClub
Axovant Sciences Ltd. (NYSE:AXON) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Several other analysts have also recently commented on the company. Oppenheimer Holdings, Inc. increased their target price on Axovant Sciences from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, April 17th. CIBC increased their target price on Axovant Sciences from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, April 18th. Piper Jaffray Companies restated an “overweight” rating and set a $32.00 target price on shares of Axovant Sciences in a report on Wednesday, April 12th. Zacks Investment Research upgraded Axovant Sciences from a “sell” rating to a “hold” rating in a report on Thursday, March 9th. Finally, Jefferies Group LLC restated a “buy” rating and set a $31.00 target price on shares of Axovant Sciences in a report on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $27.68.
Shares of Axovant Sciences (AXON) traded down 0.54% during trading on Friday, hitting $23.87. 849,526 shares of the stock traded hands. The company’s market cap is $2.56 billion. Axovant Sciences has a 52 week low of $11.01 and a 52 week high of $25.18. The firm’s 50-day moving average price is $22.43 and its 200-day moving average price is $16.56.
Axovant Sciences (NYSE:AXON) last released its quarterly earnings data on Tuesday, June 13th. The biotechnology company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by $0.02. On average, equities research analysts anticipate that Axovant Sciences will post ($2.11) earnings per share for the current year.
In related news, insider David Hung bought 539,375 shares of Axovant Sciences stock in a transaction on Monday, April 17th. The shares were purchased at an average price of $18.54 per share, for a total transaction of $10,000,012.50. Following the completion of the acquisition, the insider now owns 539,375 shares in the company, valued at $10,000,012.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director W Anthony Vernon bought 53,937 shares of Axovant Sciences stock in a transaction on Monday, April 17th. The shares were bought at an average price of $18.54 per share, for a total transaction of $999,991.98. Following the acquisition, the director now owns 53,937 shares of the company’s stock, valued at approximately $999,991.98. The disclosure for this purchase can be found here. 3.10% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of AXON. Norges Bank bought a new position in shares of Axovant Sciences during the fourth quarter worth about $508,000. AQR Capital Management LLC bought a new position in shares of Axovant Sciences during the fourth quarter worth about $139,000. Woodstock Corp boosted its position in shares of Axovant Sciences by 55.0% in the first quarter. Woodstock Corp now owns 35,003 shares of the biotechnology company’s stock worth $523,000 after buying an additional 12,417 shares during the period. Nationwide Fund Advisors boosted its position in shares of Axovant Sciences by 70.9% in the first quarter. Nationwide Fund Advisors now owns 83,543 shares of the biotechnology company’s stock worth $1,248,000 after buying an additional 34,654 shares during the period. Finally, Primecap Management Co. CA boosted its position in shares of Axovant Sciences by 300.1% in the first quarter. Primecap Management Co. CA now owns 2,878,930 shares of the biotechnology company’s stock worth $43,011,000 after buying an additional 2,159,428 shares during the period.
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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