AveXis (AVXS) Raised to “Hold” at Zacks Investment Research
AveXis (NASDAQ:AVXS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
A number of other equities analysts also recently commented on AVXS. Chardan Capital reiterated a “buy” rating and issued a $135.00 target price on shares of AveXis in a report on Friday. Canaccord Genuity set a $110.00 target price on shares of AveXis and gave the stock a “hold” rating in a report on Friday. BMO Capital Markets reiterated a “buy” rating on shares of AveXis in a report on Monday. Citigroup boosted their price target on AveXis from $100.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. Finally, Morgan Stanley set a $120.00 price target on AveXis and gave the stock a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $111.94.
AveXis (NASDAQ:AVXS) last announced its earnings results on Thursday, November 9th. The company reported ($1.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.48) by ($0.04). During the same period last year, the company posted ($0.87) EPS. sell-side analysts forecast that AveXis will post -6.23 EPS for the current fiscal year.
In related news, insider Brian K. Kaspar sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $101.23, for a total value of $1,518,450.00. Following the sale, the insider now owns 1,841,019 shares in the company, valued at $186,366,353.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Andrew F. Knudten sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $94.48, for a total value of $188,960.00. Following the completion of the sale, the vice president now owns 7,000 shares in the company, valued at approximately $661,360. The disclosure for this sale can be found here. Insiders have sold 52,340 shares of company stock worth $5,318,845 in the last 90 days. Insiders own 18.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio purchased a new stake in AveXis in the third quarter valued at approximately $116,000. Botty Investors LLC purchased a new stake in AveXis in the second quarter valued at approximately $123,000. Quantbot Technologies LP purchased a new stake in AveXis in the first quarter valued at approximately $117,000. Cubist Systematic Strategies LLC boosted its position in AveXis by 688.6% in the third quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock valued at $175,000 after buying an additional 1,577 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in AveXis in the third quarter valued at approximately $200,000. Hedge funds and other institutional investors own 92.88% 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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