AveXis Inc. (AVXS) Given “Outperform” Rating at BMO Capital Markets
A number of other research analysts also recently commented on AVXS. Zacks Investment Research raised shares of AveXis from a sell rating to a hold rating in a research report on Wednesday, June 15th. Jefferies Group downgraded shares of AveXis from a buy rating to a hold rating and boosted their price objective for the company from $39.00 to $42.00 in a research report on Wednesday, June 22nd. They noted that the move was a valuation call. Wells Fargo & Co. started coverage on shares of AveXis in a research note on Friday, July 15th. They issued a market perform rating for the company. Finally, Chardan Capital reiterated a buy rating and issued a $60.00 target price on shares of AveXis in a research note on Friday, August 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. AveXis presently has an average rating of Buy and an average target price of $51.20.
Shares of AveXis (NASDAQ:AVXS) traded down 0.50% on Monday, reaching $49.83. 71,737 shares of the company’s stock traded hands. The firm’s market capitalization is $1.15 billion. AveXis has a 52 week low of $17.40 and a 52 week high of $50.19. The company’s 50-day moving average is $39.93 and its 200-day moving average is $36.07.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.68) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.77) by $0.09. Equities research analysts anticipate that AveXis will post ($3.30) earnings per share for the current fiscal year.
In related news, insider Paul B. Manning sold 289,855 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $9,999,997.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in shares of AveXis during the second quarter valued at about $1,204,000. Candriam Luxembourg S.C.A. acquired a new stake in shares of AveXis during the second quarter valued at about $1,825,000. Deerfield Management Co. acquired a new stake in shares of AveXis during the first quarter valued at about $60,928,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of AveXis during the first quarter valued at about $10,896,000. Finally, VHCP Management II LLC acquired a new stake in shares of AveXis during the first quarter valued at about $24,501,000. 54.46% of the stock is currently owned by hedge funds and other institutional investors.
AveXis Company Profile
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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