AveXis Inc. (AVXS) Coverage Initiated at Stifel Nicolaus
Stock analysts at Stifel Nicolaus began coverage on shares of AveXis Inc. (NASDAQ:AVXS) in a note issued to investors on Monday. The firm set a “hold” rating and a $65.00 price target on the stock. Stifel Nicolaus’ price target would suggest a potential downside of 8.91% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of AveXis from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Tuesday, August 16th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of AveXis in a research note on Friday, August 12th. Jefferies Group upgraded shares of AveXis from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Friday, August 12th. Bank of America Corp. began coverage on shares of AveXis in a research note on Friday, October 21st. They issued a “buy” rating for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $80.00 price target (up from $52.00) on shares of AveXis in a research note on Wednesday, November 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. AveXis currently has a consensus rating of “Buy” and an average price target of $68.00.
AveXis (NASDAQ:AVXS) opened at 71.36 on Monday. The stock’s market capitalization is $1.97 billion. AveXis has a 12-month low of $16.11 and a 12-month high of $71.60. The company’s 50-day moving average is $51.19 and its 200 day moving average is $41.46.
AveXis (NASDAQ:AVXS) last posted its earnings results on Thursday, November 10th. The company reported ($0.87) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.69) by $0.18. On average, equities research analysts expect that AveXis will post ($3.37) earnings per share for the current fiscal year.
In other AveXis news, insider Paul B. Manning sold 289,855 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this link.
Hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. purchased a new stake in AveXis during the second quarter worth $106,000. Nationwide Fund Advisors purchased a new stake in AveXis during the second quarter worth $120,000. The Manufacturers Life Insurance Company purchased a new stake in AveXis during the third quarter worth $163,000. Rhumbline Advisers purchased a new stake in AveXis during the third quarter worth $209,000. Finally, TD Asset Management Inc. purchased a new stake in AveXis during the second quarter worth $259,000. Institutional investors and hedge funds own 56.38% 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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