AveXis, Inc. (AVXS) Posts Quarterly Earnings Results, Misses Estimates By $1.10 EPS
AveXis, Inc. (NASDAQ:AVXS) posted its earnings results on Thursday. The company reported ($2.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by $1.10, Bloomberg Earnings reports. During the same quarter last year, the business posted ($0.68) EPS.
Shares of AveXis (AVXS) opened at 91.66 on Friday. AveXis has a 1-year low of $31.55 and a 1-year high of $97.77. The company’s 50-day moving average is $85.30 and its 200 day moving average is $73.61. The stock’s market cap is $2.55 billion.
Several research firms recently weighed in on AVXS. Chardan Capital lifted their target price on shares of AveXis from $102.50 to $130.00 and gave the company a “buy” rating in a report on Friday. BMO Capital Markets restated a “buy” rating and set a $123.00 target price on shares of AveXis in a report on Friday. Morgan Stanley restated an “overweight” rating and set a $118.00 target price on shares of AveXis in a report on Wednesday. Sanford C. Bernstein began coverage on shares of AveXis in a report on Thursday, July 27th. They set an “outperform” rating and a $108.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of AveXis from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. AveXis has a consensus rating of “Buy” and an average price target of $99.10.
In related news, VP Sukumar Nagendran sold 1,780 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $81.88, for a total transaction of $145,746.40. Following the completion of the sale, the vice president now directly owns 1,780 shares of the company’s stock, valued at approximately $145,746.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 5,340 shares of company stock valued at $434,872. 18.60% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in AveXis by 3,055.6% in the first quarter. BlackRock Inc. now owns 1,708,386 shares of the company’s stock valued at $129,888,000 after buying an additional 1,654,248 shares in the last quarter. Alliancebernstein L.P. increased its stake in AveXis by 4,448.8% in the second quarter. Alliancebernstein L.P. now owns 564,966 shares of the company’s stock valued at $46,418,000 after buying an additional 552,546 shares in the last quarter. Marshall Wace North America L.P. increased its stake in AveXis by 813.3% in the second quarter. Marshall Wace North America L.P. now owns 303,084 shares of the company’s stock valued at $24,853,000 after buying an additional 269,900 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in AveXis by 569.9% in the first quarter. Goldman Sachs Group Inc. now owns 227,961 shares of the company’s stock valued at $17,332,000 after buying an additional 193,934 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in AveXis by 32.8% in the first quarter. Point72 Asset Management L.P. now owns 717,514 shares of the company’s stock valued at $54,553,000 after buying an additional 177,114 shares in the last quarter. 90.68% of the stock is owned by institutional investors and hedge funds.
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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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