AveXis Inc. (NASDAQ:AVXS) Given Consensus Rating of “Buy” by Analysts
AveXis Inc. (NASDAQ:AVXS) has received an average rating of “Buy” from the six analysts that are covering the firm. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $47.00.
A number of equities analysts have recently weighed in on AVXS shares. Zacks Investment Research upgraded AveXis from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Tuesday, August 16th. Jefferies Group upped their price objective on AveXis from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Co. started coverage on AveXis in a research note on Friday, July 15th. They issued a “market perform” rating on the stock. Finally, Chardan Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of AveXis in a research note on Friday, August 12th.
In other AveXis news, insider Paul B. Manning sold 289,855 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
A number of large investors have recently modified their holdings of the stock. Deerfield Management Co. acquired a new stake in shares of AveXis during the first quarter worth about $60,928,000. VHCP Management II LLC acquired a new stake in shares of AveXis during the first quarter worth about $24,501,000. RTW Investments LLC acquired a new stake in shares of AveXis during the first quarter worth about $12,895,000. FMR LLC boosted its stake 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 last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of AveXis during the second quarter worth about $16,514,000. 54.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of AveXis (NASDAQ:AVXS) traded down 4.345% during midday trading on Wednesday, hitting $42.815. The company’s stock had a trading volume of 502,270 shares. The stock’s 50 day moving average is $37.48 and its 200-day moving average is $34.03. AveXis has a 52-week low of $17.40 and a 52-week high of $47.76. The firm’s market cap is $985.30 million.
AveXis (NASDAQ:AVXS) last announced its earnings results on Thursday, August 11th. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.09. Equities analysts predict that AveXis will post ($3.35) EPS for the current fiscal year.
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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