AveXis (AVXS) Given a $110.00 Price Target by Canaccord Genuity Analysts
AveXis (NASDAQ:AVXS) received a $110.00 price target from investment analysts at Canaccord Genuity in a research report issued to clients and investors on Thursday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s target price suggests a potential upside of 11.41% from the stock’s current price.
Several other research firms also recently weighed in on AVXS. BidaskClub downgraded AveXis from a “hold” rating to a “sell” rating in a research report on Thursday. Bank of America cut their target price on AveXis from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. BMO Capital Markets reissued an “outperform” rating and set a $130.00 target price (up previously from $123.00) on shares of AveXis in a research report on Thursday, October 12th. Wells Fargo & Company reissued an “outperform” rating and set a $134.00 target price (up previously from $89.00) on shares of AveXis in a research report on Tuesday, September 5th. Finally, Evercore ISI started coverage on AveXis in a research report on Wednesday, August 16th. They set an “outperform” rating and a $120.00 target price on the stock. Four research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $110.67.
AveXis (NASDAQ AVXS) traded up $0.39 during midday trading on Thursday, hitting $98.73. The stock had a trading volume of 291,253 shares, compared to its average volume of 426,203. AveXis has a 52-week low of $44.68 and a 52-week high of $108.27.
AveXis (NASDAQ:AVXS) last released its earnings results on Thursday, November 9th. The company reported ($1.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.48) by ($0.04). During the same quarter in the previous year, the company earned ($0.87) earnings per share. analysts forecast that AveXis will post -6.23 earnings per share for the current year.
In other news, VP Andrew F. Knudten sold 2,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $94.48, for a total value of $188,960.00. Following the completion of the transaction, the vice president now directly owns 7,000 shares of the company’s stock, valued at approximately $661,360. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Sukumar Nagendran sold 1,780 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $97.25, for a total value of $173,105.00. Following the completion of the transaction, the vice president now directly owns 1,780 shares of the company’s stock, valued at $173,105. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,340 shares of company stock valued at $5,172,298. 18.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AVXS. Strs Ohio bought a new position in shares of AveXis in the 3rd quarter worth $116,000. Ameritas Investment Partners Inc. raised its position in shares of AveXis by 331.0% in 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 in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of AveXis by 688.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock worth $175,000 after acquiring an additional 1,577 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of AveXis in the 3rd quarter worth $200,000. Finally, Deschutes Portfolio Strategy LLC bought a new position in shares of AveXis in the 3rd quarter worth $203,000. 92.88% of the stock is owned by hedge funds and other institutional investors.
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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