Jefferies Group LLC Reaffirms “Buy” Rating for AveXis, Inc. (NASDAQ:AVXS)
AveXis, Inc. (NASDAQ:AVXS)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday. They presently have a $108.00 price objective on the stock, up from their prior price objective of $92.00. Jefferies Group LLC’s price target would suggest a potential upside of 20.68% from the stock’s previous close.
A number of other analysts have also commented on AVXS. Chardan Capital set a $103.00 price objective on shares of AveXis and gave the stock a “buy” rating in a research report on Sunday, June 18th. BMO Capital Markets restated a “buy” rating and set a $123.00 target price on shares of AveXis in a report on Friday. Sanford C. Bernstein assumed coverage on shares of AveXis in a report on Thursday, July 27th. They set an “outperform” rating and a $108.00 target price on the stock. Zacks Investment Research upgraded shares of AveXis from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Citigroup Inc. assumed coverage on shares of AveXis in a report on Tuesday, May 23rd. They issued a “buy” rating and a $90.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $100.70.
AveXis (NASDAQ AVXS) traded down 2.37% on Friday, reaching $89.49. 673,773 shares of the company’s stock traded hands. The firm’s 50-day moving average is $85.30 and its 200 day moving average is $73.61. AveXis has a 52-week low of $31.55 and a 52-week high of $97.77. The stock’s market capitalization is $2.49 billion.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($2.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.97) by $1.10. During the same quarter in the previous year, the business posted ($0.68) EPS. Analysts forecast that AveXis will post ($4.36) EPS for the current year.
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In other AveXis news, VP Sukumar Nagendran sold 1,780 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $70.91, for a total transaction of $126,219.80. Following the transaction, the vice president now directly owns 1,780 shares in the company, valued at approximately $126,219.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 5,340 shares of company stock worth $434,872. 18.60% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its stake in shares of AveXis by 2.9% in the second quarter. Parametric Portfolio Associates LLC now owns 20,943 shares of the company’s stock valued at $1,721,000 after buying an additional 598 shares during the period. BB Biotech AG raised its position in AveXis by 21.0% in the second quarter. BB Biotech AG now owns 402,800 shares of the company’s stock worth $33,094,000 after buying an additional 70,000 shares during the last quarter. FMR LLC raised its position in AveXis by 13.1% in the second quarter. FMR LLC now owns 4,705,433 shares of the company’s stock worth $386,598,000 after buying an additional 544,475 shares during the last quarter. Vanguard Group Inc. raised its position in AveXis by 31.8% in the second quarter. Vanguard Group Inc. now owns 1,575,205 shares of the company’s stock worth $129,419,000 after buying an additional 380,396 shares during the last quarter. Finally, Northern Trust Corp raised its position in AveXis by 140.6% in the second quarter. Northern Trust Corp now owns 249,813 shares of the company’s stock worth $20,525,000 after buying an additional 145,996 shares during the last quarter. Institutional investors own 90.68% of the company’s stock.
AveXis Company Profile
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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