AveXis (NASDAQ:AVXS) received a $110.00 price objective from Canaccord Genuity in a report issued on Friday. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity’s target price points to a potential upside of 7.76% from the company’s previous close.
Several other analysts also recently issued reports on AVXS. Chardan Capital reiterated a “buy” rating and issued a $135.00 price target on shares of AveXis in a report on Friday. Citigroup increased their price target on AveXis from $100.00 to $116.00 and gave the company a “buy” rating in a report on Monday, October 2nd. Morgan Stanley set a $120.00 price target on AveXis and gave the company a “buy” rating in a report on Friday. UBS Group set a $122.00 price target on AveXis and gave the company a “buy” rating in a report on Friday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $123.00 price target on shares of AveXis in a report on Saturday, September 30th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $111.94.
Shares of AveXis (NASDAQ:AVXS) opened at $102.08 on Friday. AveXis has a twelve month low of $50.56 and a twelve month high of $116.15. The stock has a market capitalization of $3,349.21, a price-to-earnings ratio of -18.29 and a beta of 2.46.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Thursday, November 9th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.48) by ($0.04). During the same quarter in the previous year, the business posted ($0.87) earnings per share. research analysts expect that AveXis will post -6.23 EPS for the current year.
In other news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $101.26, for a total transaction of $180,242.80. Following the transaction, the vice president now owns 1,780 shares of the company’s stock, valued at $180,242.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Insiders have sold 67,340 shares of company stock valued at $6,840,745 over the last 90 days. Insiders own 18.60% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. California Public Employees Retirement System bought a new position in shares of AveXis during the third quarter worth about $570,000. Cubist Systematic Strategies LLC lifted its position in shares of AveXis by 688.6% during the third quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock worth $175,000 after purchasing an additional 1,577 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of AveXis during the third quarter worth about $967,000. Perceptive Advisors LLC lifted its position in shares of AveXis by 147.5% during the third quarter. Perceptive Advisors LLC now owns 671,181 shares of the company’s stock worth $64,923,000 after purchasing an additional 400,000 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of AveXis by 52.2% during the third quarter. Janus Henderson Group PLC now owns 1,027,221 shares of the company’s stock worth $99,363,000 after purchasing an additional 352,456 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.
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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.