BMO Capital Markets Reaffirms “Outperform” Rating for AveXis, Inc. (AVXS)
AveXis, Inc. (NASDAQ:AVXS)‘s stock had its “outperform” rating reiterated by investment analysts at BMO Capital Markets in a research note issued on Thursday, The Fly reports. They currently have a $130.00 target price on the stock. BMO Capital Markets’ price target points to a potential upside of 26.59% from the stock’s previous close.
Several other research firms have also issued reports on AVXS. Zacks Investment Research upgraded shares of AveXis from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Morgan Stanley reiterated an “overweight” rating and set a $118.00 price target on shares of AveXis in a research report on Wednesday, August 9th. Citigroup Inc. set a $100.00 price target on shares of AveXis and gave the stock a “buy” rating in a research report on Thursday, June 15th. Wells Fargo & Company reiterated 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, September 5th. Finally, Evercore ISI started coverage on shares of AveXis in a research report on Wednesday, August 16th. They set an “outperform” rating and a $120.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $107.38.
AveXis (NASDAQ:AVXS) opened at 102.69 on Thursday. AveXis has a one year low of $43.06 and a one year high of $104.86. The stock has a 50 day moving average price of $94.61 and a 200 day moving average price of $83.32. The firm’s market capitalization is $3.28 billion.
AveXis (NASDAQ:AVXS) last posted its quarterly earnings results on Thursday, August 10th. The company reported ($2.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($1.10). During the same period last year, the business posted ($0.68) EPS. On average, equities analysts predict that AveXis will post ($6.22) EPS for the current fiscal year.
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In other news, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $91.52, for a total transaction of $162,905.60. Following the transaction, the vice president now owns 1,780 shares in the company, valued at $162,905.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction on Monday, October 9th. The stock was sold at an average price of $101.46, for a total transaction of $1,521,900.00. The disclosure for this sale can be found here. Insiders sold 20,340 shares of company stock worth $2,023,896 in the last 90 days. Company insiders own 18.60% of the company’s stock.
Large investors have recently modified their holdings of the company. Botty Investors LLC acquired a new position in shares of AveXis during the second quarter worth $123,000. Ameritas Investment Partners Inc. lifted its holdings 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 worth $174,000 after purchasing an additional 1,622 shares during the period. Seven Bridges Advisors LLC lifted its holdings in shares of AveXis by 49.4% during the second quarter. Seven Bridges Advisors LLC now owns 2,557 shares of the company’s stock worth $210,000 after purchasing an additional 846 shares during the period. Amalgamated Bank acquired a new position in shares of AveXis during the second quarter worth $219,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of AveXis by 1,001.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,732 shares of the company’s stock worth $224,000 after purchasing an additional 2,484 shares during the period. Institutional investors own 94.71% of the company’s stock.
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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