AveXis Inc. (AVXS) PT Raised to $50.00
AveXis Inc. (NASDAQ:AVXS) had its price objective boosted by equities researchers at Jefferies Group from $42.00 to $50.00 in a note issued to investors on Monday. The firm presently has a “buy” rating on the stock. Jefferies Group’s price target would indicate a potential upside of 11.71% from the company’s current price.
Several other brokerages have also issued reports on AVXS. Zacks Investment Research lowered shares of AveXis from a “hold” rating to a “sell” rating in a report on Wednesday, June 1st. Wells Fargo & Co. raised shares of AveXis from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 17th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $60.00 price target on shares of AveXis in a report on Friday, August 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.00.
Shares of AveXis (NASDAQ:AVXS) opened at 44.76 on Monday. The firm’s market capitalization is $1.03 billion. The firm has a 50-day moving average of $37.48 and a 200 day moving average of $34.03. AveXis has a 12-month low of $17.40 and a 12-month high of $47.76.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.09. On average, equities research analysts expect that AveXis will post ($3.35) earnings per share for the current year.
In other AveXis news, insider Paul B. Manning sold 289,855 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $9,999,997.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Hedge funds and other institutional investors have recently modified their holdings of the company. Deerfield Management Co. purchased a new position in shares of AveXis during the first quarter worth about $60,928,000. VHCP Management II LLC purchased a new position in shares of AveXis during the first quarter worth about $24,501,000. RTW Investments LLC purchased a new position in shares of AveXis during the first quarter worth about $12,895,000. FMR LLC increased its position in shares of AveXis by 212.8% in the second quarter. FMR LLC now owns 688,353 shares of the company’s stock worth $26,171,000 after buying an additional 468,279 shares during the period. Finally, Franklin Resources Inc. purchased a new position in shares of AveXis during the second quarter worth about $16,514,000. Hedge funds and other institutional investors own 54.46% of the company’s stock.
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.
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