AveXis, Inc. (AVXS) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of AveXis, Inc. (NASDAQ:AVXS) from a buy rating to a hold rating in a report published on Monday 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. “
Several other research analysts have also commented on AVXS. Canaccord Genuity initiated coverage on AveXis in a research note on Thursday, October 26th. They set a hold rating and a $110.00 target price for the company. Sanford C. Bernstein initiated coverage on AveXis in a research note on Thursday, July 27th. They set an outperform rating and a $108.00 target price for the company. Citigroup Inc. raised their target price on AveXis from $100.00 to $116.00 and gave the company a buy rating in a research note on Monday, October 2nd. UBS AG restated a buy rating and set a $122.00 target price (up from $95.00) on shares of AveXis in a research note on Tuesday, October 3rd. Finally, Nomura initiated coverage on AveXis in a research note on Monday, August 28th. They set a reduce rating and a $52.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. AveXis has a consensus rating of Buy and an average target price of $107.78.
Shares of AveXis (AVXS) traded up $4.61 during trading on Monday, hitting $104.53. The company’s stock had a trading volume of 342,720 shares, compared to its average volume of 323,659.
AveXis (NASDAQ:AVXS) last issued its earnings results on Thursday, August 10th. The company reported ($2.07) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($1.10). During the same period last year, the firm earned ($0.68) earnings per share. analysts anticipate that AveXis will post -5.55 earnings per share for the current year.
In related news, VP Sukumar Nagendran sold 1,780 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $93.25, for a total transaction of $165,985.00. Following the sale, the vice president now owns 1,780 shares of the company’s stock, valued at $165,985. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian K. Kaspar sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $101.46, for a total value of $1,521,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,340 shares of company stock valued at $3,559,683. 18.60% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Candriam Luxembourg S.C.A. grew its position in AveXis by 14.0% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 28,500 shares of the company’s stock worth $2,757,000 after purchasing an additional 3,500 shares in the last quarter. Smith Asset Management Group LP purchased a new position in AveXis during the 3rd quarter worth approximately $516,000. Prudential Financial Inc. purchased a new position in AveXis during the 3rd quarter worth approximately $224,000. American Century Companies Inc. purchased a new position in AveXis during the 3rd quarter worth approximately $1,450,000. Finally, State Board of Administration of Florida Retirement System grew its position in AveXis by 19.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 12,968 shares of the company’s stock worth $1,254,000 after purchasing an additional 2,080 shares in the last quarter. Hedge funds and other institutional investors own 94.71% of the company’s stock.
AveXis Company Profile
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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