Axovant Sciences (AXON) Earns “Buy” Rating from JMP Securities
JMP Securities reiterated their buy rating on shares of Axovant Sciences (NASDAQ:AXON) in a research report released on Monday. JMP Securities currently has a $6.00 price target on the biotechnology company’s stock.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Axovant Sciences from a hold rating to a buy rating and set a $1.25 price objective for the company in a research note on Monday, January 7th. ValuEngine lowered Axovant Sciences from a buy rating to a hold rating in a research note on Wednesday, January 2nd. Jefferies Financial Group raised Axovant Sciences from a hold rating to a buy rating and set a $3.00 price objective for the company in a research note on Monday, December 17th. Oppenheimer reissued a hold rating on shares of Axovant Sciences in a research note on Sunday, November 11th. Finally, BidaskClub lowered Axovant Sciences from a sell rating to a strong sell rating in a research note on Thursday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $4.25.
NASDAQ:AXON opened at $1.30 on Monday. The firm has a market cap of $158.96 million, a P/E ratio of -0.63 and a beta of 1.21. Axovant Sciences has a 52-week low of $0.93 and a 52-week high of $6.59. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.02 and a quick ratio of 2.02.
In other news, major shareholder Svf Investments (Uk) Ltd purchased 10,000,000 shares of the company’s stock in a transaction on Tuesday, December 18th. The stock was purchased at an average price of $1.00 per share, with a total value of $10,000,000.00. Following the completion of the purchase, the insider now directly owns 99,285,714 shares in the company, valued at approximately $99,285,714. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.00% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Axovant Sciences by 12.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 559,602 shares of the biotechnology company’s stock worth $1,354,000 after purchasing an additional 64,152 shares during the last quarter. BlackRock Inc. lifted its stake in Axovant Sciences by 13.5% during the third quarter. BlackRock Inc. now owns 1,424,710 shares of the biotechnology company’s stock worth $3,447,000 after purchasing an additional 169,918 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Axovant Sciences by 60.5% during the third quarter. Renaissance Technologies LLC now owns 2,091,700 shares of the biotechnology company’s stock worth $5,062,000 after purchasing an additional 788,100 shares during the last quarter. 7.58% of the stock is owned by hedge funds and other institutional investors.
Axovant Sciences Company Profile
Axovant Sciences Ltd., a clinical-stage biopharmaceutical company, engages in acquisition, development, and commercialization of therapeutics in the fields of neurology and psychiatry in the United States and the European Union. It focuses on developing AXO-Lenti-PD, an in vivo lentiviral gene therapy investigational product candidate for the one-time treatment of Parkinson's disease.
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