Royal Bank Of Canada Begins Coverage on AveXis, Inc. (AVXS)
Research analysts at Royal Bank Of Canada initiated coverage on shares of AveXis, Inc. (NASDAQ:AVXS) in a research note issued on Thursday, The Fly reports. The firm set a “sector perform” rating on the stock.
A number of other equities analysts also recently commented on the stock. Citigroup Inc. initiated coverage on shares of AveXis in a report on Tuesday, May 23rd. They set a “buy” rating and a $90.00 price objective for the company. Nomura initiated coverage on shares of AveXis in a report on Monday, August 28th. They set a “reduce” rating and a $52.00 price objective for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $92.00 price objective on shares of AveXis in a report on Thursday, May 25th. Instinet initiated coverage on shares of AveXis in a report on Tuesday, August 29th. They set a “reduce” rating and a $52.00 price objective for the company. Finally, Zacks Investment Research raised shares of AveXis from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $99.75.
Shares of AveXis (AVXS) traded down 0.27% during midday trading on Thursday, hitting $89.75. 256,324 shares of the company were exchanged. The stock’s 50-day moving average is $93.16 and its 200-day moving average is $79.85. The stock’s market cap is $2.87 billion. AveXis has a one year low of $35.64 and a one year high of $99.45.
AveXis (NASDAQ:AVXS) last issued 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 quarter in the previous year, the company earned ($0.68) EPS. Equities research analysts anticipate that AveXis will post ($6.04) EPS for the current year.
In other AveXis news, VP Sukumar Nagendran sold 1,780 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $91.52, for a total value of $162,905.60. Following the completion of the sale, the vice president now owns 1,780 shares in the company, valued at approximately $162,905.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 5,340 shares of company stock valued at $474,637 in the last 90 days. Corporate insiders own 18.60% of the company’s stock.
Several large investors have recently modified their holdings of the company. Lord Abbett & CO. LLC acquired a new stake in shares of AveXis during the 2nd quarter worth approximately $20,614,000. Ameritas Investment Partners Inc. grew its position in shares of AveXis by 331.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,112 shares of the company’s stock worth $174,000 after buying an additional 1,622 shares during the period. California State Teachers Retirement System grew its position in shares of AveXis by 280.6% during the 2nd quarter. California State Teachers Retirement System now owns 43,538 shares of the company’s stock worth $3,577,000 after buying an additional 32,100 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of AveXis by 210.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,961 shares of the company’s stock worth $1,312,000 after buying an additional 10,827 shares during the period. Finally, PointState Capital LP grew its position in shares of AveXis by 118.7% during the 2nd quarter. PointState Capital LP now owns 544,667 shares of the company’s stock worth $44,750,000 after buying an additional 295,600 shares during the period. 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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