Zacks Investment Research upgraded shares of AveXis, Inc. (NASDAQ:AVXS) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

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. “

Other equities research analysts have also recently issued reports about the company. Jefferies Group LLC reiterated a buy rating and issued a $79.00 price target (up from $71.00) on shares of AveXis in a research note on Monday, November 14th. Stifel Nicolaus began coverage on AveXis in a research note on Monday, November 14th. They set a hold rating and a $65.00 target price for the company. Chardan Capital restated a buy rating and set a $100.00 target price (up from $85.00) on shares of AveXis in a research note on Tuesday, February 7th. BMO Capital Markets restated an outperform rating and set a $78.33 target price (down from $85.00) on shares of AveXis in a research note on Thursday, December 29th. Finally, Bank of America Corporation began coverage on AveXis in a research note on Friday, October 21st. They set a buy rating for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $70.22.

Analyst Recommendations for AveXis (NASDAQ:AVXS)

Shares of AveXis (NASDAQ:AVXS) opened at 59.36 on Tuesday. AveXis has a 1-year low of $18.12 and a 1-year high of $72.72. The firm’s market capitalization is $1.64 billion. The stock has a 50 day moving average price of $54.48 and a 200 day moving average price of $48.95.

This piece was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this piece on another publication, it was stolen and republished in violation of U.S. & international trademark & copyright law. The legal version of this piece can be accessed at http://www.watchlistnews.com/avexis-inc-avxs-lifted-to-hold-at-zacks-investment-research/1121711.html.

A number of hedge funds have recently bought and sold shares of the stock. Pacad Investment Ltd. acquired a new stake in shares of AveXis during the fourth quarter worth $277,000. A.R.T. Advisors LLC increased its stake in shares of AveXis by 68.8% in the fourth quarter. A.R.T. Advisors LLC now owns 10,800 shares of the company’s stock worth $515,000 after buying an additional 4,400 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of AveXis by 98.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 14,609 shares of the company’s stock worth $556,000 after buying an additional 7,252 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of AveXis during the fourth quarter worth $640,000. Finally, GAM Holding AG acquired a new stake in shares of AveXis during the third quarter worth $1,212,000. Institutional investors and hedge funds own 68.31% of the company’s stock.

About AveXis

AveXis, Inc, formerly Biolife Cell Bank, Inc, is a clinical-stage gene therapy company. The Company operates through 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.

5 Day Chart for NASDAQ:AVXS

Get a free copy of the Zacks research report on AveXis (AVXS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for AveXis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AveXis Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.