AveXis Inc. (NASDAQ:AVXS) – Stock analysts at Jefferies Group upped their FY2020 earnings per share (EPS) estimates for AveXis in a report issued on Wednesday. Jefferies Group analyst B. Amin now expects that the brokerage will earn $1.46 per share for the year, up from their previous forecast of ($0.32). Jefferies Group currently has a “Buy” rating and a $58.00 target price on the stock.

AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.77) by $0.09.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised AveXis from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Tuesday, August 16th. Chardan Capital reissued a “buy” rating and set a $60.00 target price on shares of AveXis in a research report on Friday, August 12th. Wells Fargo & Co. started coverage on AveXis in a research report on Friday, July 15th. They set a “market perform” rating on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and set a $52.00 target price on shares of AveXis in a research report on Monday, October 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $52.80.

AveXis (NASDAQ:AVXS) opened at 47.03 on Friday. The firm has a 50-day moving average price of $40.84 and a 200-day moving average price of $36.44. AveXis has a one year low of $17.40 and a one year high of $50.19. The firm’s market capitalization is $1.08 billion.

In related news, insider Paul B. Manning sold 289,855 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at this link.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in AveXis by 98.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 14,609 shares of the company’s stock worth $556,000 after buying an additional 7,252 shares in the last quarter. Boxer Capital LLC increased its position in shares of AveXis by 71.3% in the second quarter. Boxer Capital LLC now owns 142,664 shares of the company’s stock valued at $5,424,000 after buying an additional 59,388 shares during the period. RTW Investments LLC increased its position in shares of AveXis by 0.6% in the second quarter. RTW Investments LLC now owns 476,367 shares of the company’s stock valued at $18,111,000 after buying an additional 2,993 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of AveXis by 59.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 637,931 shares of the company’s stock valued at $24,254,000 after buying an additional 237,931 shares during the period. Finally, Parametric Portfolio Associates LLC bought a new position in shares of AveXis during the second quarter valued at $767,000. Hedge funds and other institutional investors own 54.46% of the company’s stock.

About AveXis

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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