AveXis, Inc. (AVXS) Earns “Hold” Rating from Royal Bank Of Canada
AveXis, Inc. (NASDAQ:AVXS)‘s stock had its “hold” rating reissued by Royal Bank Of Canada in a report released on Thursday. They currently have a $92.00 price objective on the stock. Royal Bank Of Canada’s target price would indicate a potential downside of 11.97% from the company’s previous close.
Several other brokerages have also recently commented on AVXS. BMO Capital Markets reaffirmed a “buy” rating and set a $123.00 target price on shares of AveXis in a report on Friday, August 11th. Zacks Investment Research raised shares of AveXis from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $118.00 target price on shares of AveXis in a report on Wednesday, August 9th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $134.00 target price (up from $89.00) on shares of AveXis in a report on Tuesday, September 5th. Finally, Evercore ISI initiated coverage on shares of AveXis in a report on Wednesday, August 16th. They set an “outperform” rating and a $120.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. AveXis presently has an average rating of “Buy” and an average price target of $107.78.
AveXis (NASDAQ:AVXS) last announced its earnings results on Thursday, August 10th. The company reported ($2.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($1.10). During the same period in the prior year, the company earned ($0.68) EPS.
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In related news, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $101.46, for a total value of $1,521,900.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $97.25, for a total transaction of $173,105.00. Following the completion of the transaction, the vice president now directly owns 1,780 shares in the company, valued at $173,105. The disclosure for this sale can be found here. Insiders sold 18,560 shares of company stock worth $1,860,990 over the last three months. 18.60% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Nationwide Fund Advisors increased its stake in AveXis by 9.0% in the first quarter. Nationwide Fund Advisors now owns 3,444 shares of the company’s stock valued at $262,000 after acquiring an additional 284 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of AveXis by 2.9% during the second quarter. Parametric Portfolio Associates LLC now owns 20,943 shares of the company’s stock worth $1,721,000 after buying an additional 598 shares during the last quarter. American International Group Inc. grew its stake in shares of AveXis by 26.7% during the first quarter. American International Group Inc. now owns 3,521 shares of the company’s stock worth $268,000 after buying an additional 742 shares during the last quarter. Seven Bridges Advisors LLC grew its stake 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 buying an additional 846 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of AveXis by 0.5% during the second quarter. Jennison Associates LLC now owns 184,668 shares of the company’s stock worth $15,172,000 after buying an additional 882 shares during the last quarter. 94.71% of the stock is currently owned by institutional investors and hedge funds.
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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