Axovant Sciences Ltd. (AXON) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of Axovant Sciences Ltd. (NYSE:AXON) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.
According to Zacks, “Axovant Sciences Ltd. is a biopharmaceutical company which focuses on the acquisition, development and commercialization of therapeutics for the treatment of neurodegenerative disorders. Its product candidate includes RVT-101 which is in different clinical trial for the treatment of Alzheimer’s disease and other forms of dementia. Axovant Sciences Ltd. is based in Hamilton, Bermuda. “
Several other analysts also recently issued reports on AXON. Oppenheimer Holdings, Inc. restated a buy rating on shares of Axovant Sciences in a report on Wednesday, March 22nd. Piper Jaffray Companies restated an overweight rating and set a $32.00 price objective on shares of Axovant Sciences in a report on Wednesday, April 12th. Jefferies Group LLC reaffirmed a buy rating and set a $31.00 target price on shares of Axovant Sciences in a research note on Tuesday, April 18th. CIBC lifted their target price on Axovant Sciences from $30.00 to $33.00 and gave the company a neutral rating in a research note on Tuesday, April 18th. Finally, Cowen and Company reaffirmed an outperform rating and set a $30.00 target price (up previously from $22.00) on shares of Axovant Sciences in a research note on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $28.50.
Axovant Sciences (NYSE:AXON) traded up 0.7891% during midday trading on Tuesday, hitting $24.4716. 181,243 shares of the company traded hands. The company’s market cap is $2.63 billion. Axovant Sciences has a 12-month low of $11.01 and a 12-month high of $26.49. The stock has a 50 day moving average price of $22.40 and a 200-day moving average price of $17.00.
Axovant Sciences (NYSE:AXON) last posted its quarterly earnings data on Tuesday, June 13th. The biotechnology company reported ($0.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by $0.02. Analysts expect that Axovant Sciences will post ($2.20) EPS for the current year.
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Several large investors have recently made changes to their positions in the stock. Primecap Management Co. CA boosted its stake in shares of Axovant Sciences by 300.1% in the first quarter. Primecap Management Co. CA now owns 2,878,930 shares of the biotechnology company’s stock valued at $43,011,000 after buying an additional 2,159,428 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Axovant Sciences by 1,718.3% in the first quarter. Point72 Asset Management L.P. now owns 209,100 shares of the biotechnology company’s stock valued at $3,124,000 after buying an additional 197,600 shares during the last quarter. C WorldWide Group Holding A S purchased a new stake in shares of Axovant Sciences during the first quarter valued at approximately $1,637,000. Candriam Luxembourg S.C.A. boosted its stake in shares of Axovant Sciences by 77.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 160,000 shares of the biotechnology company’s stock valued at $2,391,000 after buying an additional 70,000 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Axovant Sciences during the fourth quarter valued at approximately $508,000. 94.54% of the stock is owned by institutional investors and hedge funds.
About Axovant Sciences
Axovant Sciences Ltd. is a clinical-stage biopharmaceutical company. The Company is focused on acquiring, developing and commercializing therapeutics for the treatment of dementia, including Alzheimer’s disease and Lewy body dementia. The Company intends to develop a pipeline of product candidates to address the cognitive, functional and behavioral aspects of dementia and related neurological disorders.
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