AveXis Inc. (AVXS) Stock Rating Reaffirmed by Jefferies Group
AveXis Inc. (NASDAQ:AVXS)‘s stock had its “buy” rating reissued by Jefferies Group in a report issued on Wednesday. They presently have a $50.00 target price on the stock. Jefferies Group’s target price would indicate a potential upside of 20.28% from the stock’s current price.
A number of other equities analysts have also recently commented on AVXS. Zacks Investment Research cut AveXis from a “hold” rating to a “sell” rating in a report on Wednesday, June 1st. Wells Fargo & Co. raised AveXis from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 17th. Finally, Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of AveXis in a report on Friday, August 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. AveXis has an average rating of “Buy” and a consensus target price of $47.00.
AveXis (NASDAQ:AVXS) traded up 1.39% during trading on Wednesday, reaching $41.57. The company had a trading volume of 259,398 shares. The firm’s 50 day moving average price is $38.64 and its 200 day moving average price is $34.78. AveXis has a 12-month low of $17.40 and a 12-month high of $47.76. The firm’s market capitalization is $956.65 million.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.68) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.77) by $0.09. Analysts anticipate that AveXis will post ($3.30) earnings per share for the current year.
In related news, insider Paul B. Manning sold 289,855 shares of the business’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $34.50, for a total transaction of $9,999,997.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Large investors have recently modified their holdings of the company. VHCP Management II LLC bought a new stake in AveXis during the first quarter worth approximately $24,501,000. Geode Capital Management LLC bought a new stake in AveXis during the first quarter worth approximately $1,490,000. Goldman Sachs Group Inc. bought a new stake in AveXis during the first quarter worth approximately $1,795,000. Pictet Asset Management Ltd. bought a new stake in AveXis during the first quarter worth approximately $536,000. Finally, State Street Corp bought a new stake in AveXis during the first quarter worth approximately $1,058,000. Institutional investors and hedge funds own 54.46% of the company’s stock.
AveXis, Inc, formerly Biolife Cell Bank, Inc, is a clinical-stage gene therapy company. The Company operates through 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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