Research Analysts Set Expectations for AveXis Inc.’s FY2016 Earnings (AVXS)
AveXis Inc. (NASDAQ:AVXS) – Equities research analysts at Jefferies Group decreased their FY2016 earnings per share estimates for AveXis in a research report issued to clients and investors on Sunday. Jefferies Group analyst B. Amin now expects that the brokerage will post earnings of ($3.27) per share for the year, down from their prior estimate of ($3.11). Jefferies Group currently has a “Buy” rating and a $79.00 price target on the stock. Jefferies Group also issued estimates for AveXis’ Q4 2016 earnings at ($0.63) EPS, FY2017 earnings at ($2.97) EPS, FY2018 earnings at ($2.27) EPS, FY2019 earnings at $3.38 EPS and FY2020 earnings at $7.76 EPS.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings data on Thursday, November 10th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.69) by $0.18.
Several other research firms also recently weighed in on AVXS. Wells Fargo & Co. upgraded AveXis from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 17th. BMO Capital Markets reiterated an “outperform” rating and set a $52.00 target price on shares of AveXis in a research report on Monday, October 10th. Stifel Nicolaus started coverage on AveXis in a research report on Monday. They set a “hold” rating and a $65.00 target price on the stock. Zacks Investment Research upgraded AveXis from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Tuesday, October 25th. Finally, Chardan Capital set a $85.00 target price on AveXis and gave the company a “buy” rating in a research report on Wednesday, November 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $68.00.
AveXis (NASDAQ:AVXS) opened at 68.00 on Wednesday. AveXis has a 12 month low of $16.11 and a 12 month high of $72.72. The stock’s 50 day moving average price is $52.64 and its 200 day moving average price is $41.83. The company’s market capitalization is $1.88 billion.
Several institutional investors have recently made changes to their positions in AVXS. BlackRock Group LTD acquired a new position in shares of AveXis during the first quarter valued at approximately $2,223,000. JPMorgan Chase & Co. acquired a new position in shares of AveXis during the first quarter valued at approximately $976,000. Pictet Asset Management Ltd. acquired a new position in shares of AveXis during the first quarter valued at approximately $536,000. Goldman Sachs Group Inc. acquired a new position in shares of AveXis during the first quarter valued at approximately $1,795,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of AveXis during the first quarter valued at about $10,896,000. Institutional investors and hedge funds own 56.38% of the company’s stock.
In other news, insider Paul B. Manning sold 289,855 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $34.50, for a total value of $9,999,997.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
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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