Instinet initiated coverage on shares of AveXis Inc (NASDAQ:AVXS) in a report issued on Tuesday, Marketbeat reports. The brokerage issued a reduce rating and a $52.00 price objective on the stock.

Several other equities research analysts also recently commented on the stock. Sanford C. Bernstein initiated coverage on shares of AveXis in a report on Thursday, July 27th. They set an outperform rating and a $108.00 price objective on the stock. Jefferies Group LLC reaffirmed a buy rating and set a $92.00 price objective on shares of AveXis in a report on Thursday, May 25th. Nomura initiated coverage on shares of AveXis in a report on Monday, August 28th. They set a reduce rating and a $52.00 price objective on the stock. Morgan Stanley initiated coverage on shares of AveXis in a report on Thursday, August 3rd. They set an overweight rating and a $118.00 price objective on the stock. Finally, Chardan Capital set a $103.00 price objective on shares of AveXis and gave the company a buy rating in a report on Sunday, June 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. AveXis has a consensus rating of Buy and an average target price of $95.57.

AveXis (NASDAQ:AVXS) opened at 92.92 on Tuesday. The company’s 50-day moving average is $91.34 and its 200-day moving average is $77.92. The company’s market capitalization is $2.97 billion. AveXis has a 52-week low of $32.31 and a 52-week high of $99.45.

AveXis (NASDAQ:AVXS) last issued its quarterly earnings results on Thursday, August 10th. The company reported ($2.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.97) by $1.10. During the same period in the prior year, the firm earned ($0.68) EPS. On average, analysts expect that AveXis will post ($5.94) earnings per share for the current fiscal year.

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In other news, VP Sukumar Nagendran sold 1,780 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $91.52, for a total transaction of $162,905.60. Following the sale, the vice president now directly owns 1,780 shares in the company, valued at $162,905.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 18.60% of the company’s stock.

Several large investors have recently made changes to their positions in AVXS. Norges Bank bought a new stake in shares of AveXis during the fourth quarter valued at $1,193,000. Teachers Advisors LLC boosted its position in AveXis by 602.2% in the fourth quarter. Teachers Advisors LLC now owns 52,830 shares of the company’s stock valued at $2,522,000 after buying an additional 45,306 shares during the period. Candriam Luxembourg S.C.A. bought a new position in AveXis during the first quarter valued at $1,901,000. Nationwide Fund Advisors boosted its position in AveXis by 9.0% in the first quarter. Nationwide Fund Advisors now owns 3,444 shares of the company’s stock valued at $262,000 after buying an additional 284 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in AveXis by 30.2% in the first quarter. Russell Investments Group Ltd. now owns 17,550 shares of the company’s stock valued at $1,335,000 after buying an additional 4,067 shares during the period. Hedge funds and other institutional investors own 94.71% of the company’s stock.

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.

Analyst Recommendations for AveXis (NASDAQ:AVXS)

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