Analysts Set AveXis, Inc. (AVXS) Price Target at $107.73
Shares of AveXis, Inc. (NASDAQ:AVXS) have been assigned an average recommendation of “Buy” from the eighteen analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $107.73.
AVXS has been the subject of several research reports. Nomura initiated coverage on AveXis in a research note on Monday, August 28th. They set a “reduce” rating and a $52.00 price objective for the company. Zacks Investment Research lowered AveXis from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Bank of America Corporation reduced their price objective on AveXis from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, November 10th. Canaccord Genuity initiated coverage on AveXis in a research note on Thursday, October 26th. They set a “hold” rating and a $110.00 price objective for the company. Finally, Wells Fargo & Company reissued an “outperform” rating on shares of AveXis in a research note on Friday, September 29th.
In related news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $97.25, for a total transaction of $173,105.00. Following the completion of the sale, the vice president now directly owns 1,780 shares in the company, valued at $173,105. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Brian K. Kaspar sold 15,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $101.23, for a total value of $1,518,450.00. Following the sale, the insider now owns 1,841,019 shares of the company’s stock, valued at $186,366,353.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,340 shares of company stock valued at $3,559,683. 18.60% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its holdings in shares of AveXis by 41.7% during the second quarter. Russell Investments Group Ltd. now owns 24,871 shares of the company’s stock worth $2,043,000 after acquiring an additional 7,321 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of AveXis by 31.8% during the second quarter. Vanguard Group Inc. now owns 1,575,205 shares of the company’s stock worth $129,419,000 after acquiring an additional 380,396 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new stake in shares of AveXis during the second quarter worth $552,000. TimesSquare Capital Management LLC purchased a new stake in shares of AveXis during the second quarter worth $6,162,000. Finally, Credit Suisse AG raised its holdings in shares of AveXis by 36.4% during the first quarter. Credit Suisse AG now owns 63,228 shares of the company’s stock worth $4,807,000 after acquiring an additional 16,876 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.
AveXis (AVXS) traded up $0.11 on Friday, hitting $96.10. The stock had a trading volume of 292,228 shares, compared to its average volume of 432,622. AveXis has a 1-year low of $44.68 and a 1-year high of $108.27.
AveXis (NASDAQ:AVXS) last released its quarterly earnings data on Thursday, November 9th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.04). During the same period last year, the company earned ($0.87) earnings per share. research analysts anticipate that AveXis will post -6.23 earnings per share for the current year.
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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.
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