AveXis Inc. (AVXS) Price Target Increased to $58.00 by Analysts at Jefferies Group
Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised AveXis from a sell rating to a hold rating in a research report on Wednesday, July 13th. Chardan Capital reaffirmed a buy rating and issued a $60.00 price target on shares of AveXis in a research note on Friday, August 12th. Wells Fargo & Co. initiated coverage on shares of AveXis in a research note on Friday, July 15th. They issued a market perform rating on the stock. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a $52.00 price target on shares of AveXis in a research note on Monday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $52.80.
Shares of AveXis (NASDAQ:AVXS) traded down 1.19% during mid-day trading on Wednesday, hitting $46.45. The company had a trading volume of 64,854 shares. AveXis has a 1-year low of $16.11 and a 1-year high of $50.19. The company’s market capitalization is $1.07 billion. The company has a 50-day moving average price of $40.13 and a 200-day moving average price of $36.24.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.09. On average, equities analysts anticipate that AveXis will post ($3.30) EPS for the current year.
In other news, insider Paul B. Manning sold 289,855 shares of AveXis stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this hyperlink.
Hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its stake in AveXis by 2.4% in the second quarter. California State Teachers Retirement System now owns 10,138 shares of the company’s stock valued at $385,000 after buying an additional 238 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in AveXis during the second quarter valued at $1,204,000. Candriam Luxembourg S.C.A. bought a new stake in AveXis during the second quarter valued at $1,825,000. Deerfield Management Co. bought a new stake in AveXis during the first quarter valued at $60,928,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in AveXis during the first quarter valued at $10,896,000. 54.46% of the stock is currently owned by hedge funds and other institutional investors.
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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