AveXis, Inc. (AVXS) Lifted to Buy at Zacks Investment Research
AveXis, Inc. (NASDAQ:AVXS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $112.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.77% from the stock’s previous close.
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. “
Other equities research analysts have also recently issued reports about the stock. Sanford C. Bernstein assumed coverage on shares of AveXis in a research note on Thursday, July 27th. They issued an “outperform” rating and a $108.00 price objective on the stock. Evercore ISI assumed coverage on shares of AveXis in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $120.00 price objective on the stock. Wells Fargo & Company reissued an “outperform” rating and issued a $134.00 price objective (up from $89.00) on shares of AveXis in a research note on Tuesday, September 5th. Chardan Capital restated a “buy” rating and issued a $130.00 target price (up from $102.50) on shares of AveXis in a report on Friday, August 11th. Finally, BMO Capital Markets restated a “buy” rating and issued a $123.00 target price on shares of AveXis in a report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $107.65.
AveXis (NASDAQ AVXS) traded up 0.04% during trading on Tuesday, hitting $100.21. 486,711 shares of the stock traded hands. The company’s 50 day moving average price is $96.23 and its 200-day moving average price is $84.92. The stock’s market cap is $3.20 billion. AveXis has a 52-week low of $44.68 and a 52-week high of $106.00.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($2.07) 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 earned ($0.68) EPS. Equities research analysts forecast that AveXis will post ($6.22) earnings per share for the current fiscal year.
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In other news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $93.25, for a total transaction of $165,985.00. Following the transaction, the vice president now directly owns 1,780 shares in the company, valued at approximately $165,985. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian K. Kaspar sold 15,000 shares of the stock in a transaction dated 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. Over the last quarter, insiders have sold 20,340 shares of company stock worth $2,023,896. Insiders own 18.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. First Trust Advisors LP purchased a new position in shares of AveXis during the 3rd quarter worth about $2,395,000. Strs Ohio purchased a new position in shares of AveXis during the 3rd quarter worth about $116,000. Deschutes Portfolio Strategy LLC purchased a new position in shares of AveXis during the 3rd quarter worth about $203,000. Lord Abbett & CO. LLC purchased a new position in shares of AveXis during the 2nd quarter worth about $20,614,000. Finally, Ameritas Investment Partners Inc. lifted its holdings 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 acquiring an additional 1,622 shares during the period. Institutional investors and hedge funds own 94.63% 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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