AveXis (NASDAQ:AVXS) has been given a $120.00 target price by equities researchers at Morgan Stanley in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 14.57% from the stock’s current price.
A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada restated a “hold” rating and set a $92.00 target price on shares of AveXis in a report on Thursday, November 2nd. Canaccord Genuity assumed coverage on shares of AveXis in a report on Thursday, October 26th. They set a “hold” rating and a $110.00 target price for the company. Zacks Investment Research cut shares of AveXis from a “buy” rating to a “hold” rating in a report on Monday, October 30th. BidaskClub raised shares of AveXis from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Finally, Citigroup raised their price objective on shares of AveXis from $100.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $111.67.
AveXis (NASDAQ AVXS) traded down $1.90 during trading on Friday, hitting $104.74. 546,000 shares of the stock traded hands, compared to its average volume of 390,233. The company has a market capitalization of $3,350.00 and a PE ratio of -18.77. AveXis has a twelve month low of $50.56 and a twelve month high of $116.15.
In other AveXis news, insider Brian K. Kaspar sold 15,000 shares of the firm’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $101.46, for a total value of $1,521,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Sukumar Nagendran sold 1,780 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $101.26, for a total transaction of $180,242.80. Following the completion of the sale, the vice president now owns 1,780 shares in the company, valued at $180,242.80. The disclosure for this sale can be found here. Insiders sold a total of 67,340 shares of company stock worth $6,840,745 over the last 90 days. Company insiders own 18.60% of the company’s stock.
Several institutional investors have recently modified their holdings of AVXS. Deerfield Management Co. acquired a new stake in shares of AveXis during the 1st quarter valued at about $60,928,000. FMR LLC lifted its holdings in AveXis by 67.6% during the 4th quarter. FMR LLC now owns 4,151,443 shares of the company’s stock valued at $198,148,000 after purchasing an additional 1,674,424 shares during the last quarter. BlackRock Inc. lifted its holdings in AveXis by 3,055.6% during the 1st quarter. BlackRock Inc. now owns 1,708,386 shares of the company’s stock valued at $129,888,000 after purchasing an additional 1,654,248 shares during the last quarter. VHCP Management II LLC bought a new position in AveXis during the 1st quarter valued at about $24,501,000. Finally, Boxer Capital LLC lifted its holdings in AveXis by 243.2% during the 4th quarter. Boxer Capital LLC now owns 1,028,763 shares of the company’s stock valued at $49,103,000 after purchasing an additional 729,007 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was first posted by American Banking and Market News and is the property of of American Banking and Market News. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://www.americanbankingnews.com/2018/01/05/avexis-avxs-given-a-120-00-price-target-at-morgan-stanley.html.
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.
