AveXis’ (AVXS) “Buy” Rating Reiterated at BMO Capital Markets

AveXis (NASDAQ:AVXS)‘s stock had its “buy” rating reaffirmed by analysts at BMO Capital Markets in a report issued on Thursday. They presently have a $150.00 target price on the stock. BMO Capital Markets’ target price suggests a potential upside of 38.57% from the stock’s current price.

A number of other brokerages have also weighed in on AVXS. Citigroup set a $132.00 target price on shares of AveXis and gave the stock a “buy” rating in a research note on Friday, January 5th. Canaccord Genuity set a $110.00 target price on shares of AveXis and gave the stock a “hold” rating in a research note on Wednesday, December 20th. BidaskClub lowered shares of AveXis from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Bank of America reduced their target price on shares of AveXis from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, November 10th. Finally, Credit Suisse Group initiated coverage on shares of AveXis in a research note on Wednesday. They issued an “outperform” rating and a $134.00 target price for the company. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $113.89.

AveXis (NASDAQ:AVXS) traded down $1.92 on Thursday, hitting $108.25. 777,156 shares of the company were exchanged, compared to its average volume of 547,921. AveXis has a 1-year low of $50.56 and a 1-year high of $119.00. The company has a market cap of $3,885.53, a PE ratio of -19.40 and a beta of 2.46.

AveXis (NASDAQ:AVXS) last released its quarterly earnings data 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 quarter last year, the company posted ($0.87) EPS. research analysts anticipate that AveXis will post -6.23 EPS for the current year.

In other news, VP James J. Litalien sold 5,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $106.52, for a total transaction of $532,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction dated Wednesday, November 1st. The stock was 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,340 shares of company stock valued at $5,851,445. Company insiders own 18.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of AVXS. Strs Ohio acquired a new position in shares of AveXis during the 3rd quarter worth about $116,000. Ameritas Investment Partners Inc. boosted its stake 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 buying an additional 1,622 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of AveXis by 688.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock worth $175,000 after buying an additional 1,577 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of AveXis during the 3rd quarter worth about $200,000. Finally, Deschutes Portfolio Strategy LLC acquired a new stake in AveXis in the 3rd quarter valued at about $203,000. Institutional investors own 92.88% of the company’s stock.

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About AveXis

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.

Analyst Recommendations for AveXis (NASDAQ:AVXS)

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