Axovant Sciences (AXON) Downgraded by Zacks Investment Research to “Hold”

Axovant Sciences (NASDAQ:AXON) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Axovant Sciences Ltd. is a biopharmaceutical company which focuses on the acquisition, development and commercialization of therapeutics for the treatment of neurodegenerative disorders. Its product candidate includes RVT-101 which is in different clinical trial for the treatment of Alzheimer’s disease and other forms of dementia. Axovant Sciences Ltd. is based in Hamilton, Bermuda. “

A number of other research analysts have also recently issued reports on the company. Cowen reissued a “hold” rating on shares of Axovant Sciences in a report on Tuesday. Oppenheimer reissued a “hold” rating on shares of Axovant Sciences in a report on Tuesday. ValuEngine raised Axovant Sciences from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd. Chardan Capital raised Axovant Sciences from a “sell” rating to a “neutral” rating and set a $2.50 price objective for the company in a report on Wednesday, January 10th. Finally, Jefferies Group cut Axovant Sciences from a “buy” rating to a “hold” rating and set a $6.00 price objective for the company. in a report on Thursday, December 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $13.61.

Shares of Axovant Sciences (NASDAQ:AXON) traded down $0.18 during mid-day trading on Wednesday, reaching $1.63. The company had a trading volume of 1,418,666 shares, compared to its average volume of 2,233,699. The company has a market capitalization of $175.57 and a PE ratio of -0.69. Axovant Sciences has a 52-week low of $1.47 and a 52-week high of $27.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.94 and a current ratio of 5.94.

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Axovant Sciences by 99.8% in the fourth quarter. BlackRock Inc. now owns 2,912,219 shares of the biotechnology company’s stock valued at $15,347,000 after buying an additional 1,454,454 shares in the last quarter. OxFORD Asset Management LLP increased its stake in shares of Axovant Sciences by 842.1% in the third quarter. OxFORD Asset Management LLP now owns 869,834 shares of the biotechnology company’s stock valued at $5,838,000 after buying an additional 777,505 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Axovant Sciences in the third quarter valued at $4,471,000. Hudson Bay Capital Management LP acquired a new stake in shares of Axovant Sciences in the fourth quarter valued at $1,845,000. Finally, Artal Group S.A. increased its stake in shares of Axovant Sciences by 185.7% in the third quarter. Artal Group S.A. now owns 500,000 shares of the biotechnology company’s stock valued at $3,440,000 after buying an additional 325,000 shares in the last quarter. 96.82% of the stock is owned by institutional investors.

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Axovant Sciences Company Profile

Axovant Sciences Ltd. is a clinical-stage biopharmaceutical company. The Company is focused on acquiring, developing and commercializing therapeutics for the treatment of dementia, including Alzheimer’s disease and Lewy body dementia. The Company intends to develop a pipeline of product candidates to address the cognitive, functional and behavioral aspects of dementia and related neurological disorders.

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