UBS AG Reaffirms Buy Rating for AveXis, Inc. (AVXS)
UBS AG reaffirmed their buy rating on shares of AveXis, Inc. (NASDAQ:AVXS) in a report published on Tuesday, www.flashratings.com reports. UBS AG currently has a $122.00 price target on the stock, up from their prior price target of $95.00.
Other research analysts have also issued reports about the stock. Jefferies Group LLC reiterated a buy rating and set a $108.00 price target (up from $92.00) on shares of AveXis in a research note on Friday, August 11th. Chardan Capital reiterated a buy rating and set a $130.00 price target (up from $102.50) on shares of AveXis in a research note on Friday, August 11th. BMO Capital Markets reiterated a buy rating and set a $123.00 price target on shares of AveXis in a research note on Friday, August 11th. Citigroup Inc. set a $100.00 price target on shares of AveXis and gave the stock a buy rating in a research note on Thursday, June 15th. Finally, Zacks Investment Research upgraded shares of AveXis from a sell rating to a hold rating in a research note on Thursday, July 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $106.31.
AveXis (NASDAQ:AVXS) traded up 5.14% during midday trading on Tuesday, hitting $103.71. 345,014 shares of the stock traded hands. AveXis has a one year low of $43.06 and a one year high of $104.53. The company’s market cap is $3.31 billion. The company’s 50 day moving average is $93.99 and its 200-day moving average is $82.65.
AveXis (NASDAQ:AVXS) last posted its quarterly earnings data on Thursday, August 10th. The company reported ($2.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.10). During the same quarter in the prior year, the business posted ($0.68) EPS. On average, equities research analysts forecast that AveXis will post ($6.23) EPS for the current fiscal year.
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In related news, VP Sukumar Nagendran sold 1,780 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 5,340 shares of company stock worth $501,996. 18.60% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors boosted its holdings in AveXis by 9.0% during the first quarter. Nationwide Fund Advisors now owns 3,444 shares of the company’s stock worth $262,000 after buying an additional 284 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in AveXis by 2.9% during the second quarter. Parametric Portfolio Associates LLC now owns 20,943 shares of the company’s stock worth $1,721,000 after buying an additional 598 shares in the last quarter. American International Group Inc. boosted its holdings in AveXis by 26.7% during the first quarter. American International Group Inc. now owns 3,521 shares of the company’s stock worth $268,000 after buying an additional 742 shares in the last quarter. Swiss National Bank boosted its holdings in AveXis by 3.0% during the first quarter. Swiss National Bank now owns 27,400 shares of the company’s stock worth $2,083,000 after buying an additional 800 shares in the last quarter. Finally, Seven Bridges Advisors LLC boosted its holdings in AveXis by 49.4% during the second quarter. Seven Bridges Advisors LLC now owns 2,557 shares of the company’s stock worth $210,000 after buying an additional 846 shares in the last quarter. 94.71% of the stock is currently owned by hedge funds and other institutional investors.
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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