AveXis, Inc. (AVXS) Lifted to Hold at Zacks Investment Research
AveXis, Inc. (NASDAQ:AVXS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “AveXis, Inc. is a gene therapy company which develops and commercializes treatments for neurological genetic diseases primarily in United States. The Company’s product candidate consists of AVXS-101 which is in clinical trial for the treatment of spinal muscular atrophy Type 1, the genetic cause of infant mortality. AveXis, Inc. is headquartered in Bannockburn, Illinois. “
A number of other analysts also recently weighed in on AVXS. Jefferies Group LLC reissued a “buy” rating and set a $108.00 price target (up previously from $92.00) on shares of AveXis in a research report on Friday, August 11th. BMO Capital Markets reissued a “buy” rating and set a $123.00 price target on shares of AveXis in a research report on Friday, August 11th. Morgan Stanley reissued an “overweight” rating and set a $118.00 price target on shares of AveXis in a research report on Wednesday, August 9th. Wells Fargo & Company reissued an “outperform” rating and set a $134.00 price target (up previously from $89.00) on shares of AveXis in a research report on Tuesday. Finally, Chardan Capital set a $103.00 price target on shares of AveXis and gave the stock a “buy” rating in a research report on Sunday, June 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $99.75.
Shares of AveXis (NASDAQ:AVXS) traded up 0.77% on Thursday, reaching $93.30. 261,855 shares of the company were exchanged. The stock’s market capitalization is $2.98 billion. AveXis has a 1-year low of $32.31 and a 1-year high of $99.45. The company has a 50-day moving average price of $92.16 and a 200 day moving average price of $78.67.
AveXis (NASDAQ:AVXS) last released its quarterly earnings results on Thursday, August 10th. The company reported ($2.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by $1.10. During the same period last year, the business earned ($0.68) EPS. On average, analysts forecast that AveXis will post ($5.94) EPS for the current fiscal 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 Friday, September 1st. The stock was sold at an average price of $93.25, for a total value of $165,985.00. Following the sale, the vice president now directly owns 1,780 shares in the company, valued at $165,985. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 5,340 shares of company stock worth $474,637 over the last quarter. 18.60% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC bought a new stake in shares of AveXis during the second quarter valued at about $20,614,000. Ameritas Investment Partners Inc. raised its stake in shares of AveXis by 331.0% during the second quarter. Ameritas Investment Partners Inc. now owns 2,112 shares of the company’s stock valued at $174,000 after purchasing an additional 1,622 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of AveXis by 280.6% during the second quarter. California State Teachers Retirement System now owns 43,538 shares of the company’s stock valued at $3,577,000 after purchasing an additional 32,100 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of AveXis by 210.9% during the second quarter. The Manufacturers Life Insurance Company now owns 15,961 shares of the company’s stock valued at $1,312,000 after purchasing an additional 10,827 shares in the last quarter. Finally, PointState Capital LP raised its stake in shares of AveXis by 118.7% during the second quarter. PointState Capital LP now owns 544,667 shares of the company’s stock valued at $44,750,000 after purchasing an additional 295,600 shares in the last quarter. Institutional investors own 94.71% 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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