AveXis Inc. to Post FY2019 Earnings of $2.94 Per Share, Jefferies Group Forecasts (AVXS)
AveXis Inc. (NASDAQ:AVXS) – Analysts at Jefferies Group reduced their FY2019 EPS estimates for shares of AveXis in a research note issued to investors on Monday. Jefferies Group analyst B. Amin now expects that the brokerage will earn $2.94 per share for the year, down from their previous forecast of $3.38. Jefferies Group has a “Buy” rating and a $79.00 price target on the stock. Jefferies Group also issued estimates for AveXis’ FY2020 earnings at $6.86 EPS.
AveXis (NASDAQ:AVXS) last announced its earnings results on Thursday, November 10th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.69) by $0.18.
Several other brokerages also recently weighed in on AVXS. Zacks Investment Research downgraded AveXis from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus initiated coverage on AveXis in a research note on Monday, November 14th. They issued a “hold” rating and a $65.00 price target on the stock. Chardan Capital set a $85.00 price target on AveXis and gave the stock a “buy” rating in a research note on Wednesday, November 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $80.00 price target (up previously from $52.00) on shares of AveXis in a research note on Wednesday, November 2nd. Finally, Bank of America Corp. initiated coverage on AveXis in a research note on Friday, October 21st. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.00.
Shares of AveXis (NASDAQ:AVXS) traded down 10.07% on Thursday, hitting $61.15. The company’s stock had a trading volume of 1,486,958 shares. The company has a 50 day moving average of $52.96 and a 200 day moving average of $41.96. The firm’s market cap is $1.69 billion. AveXis has a 1-year low of $17.40 and a 1-year high of $72.72.
Several hedge funds have recently made changes to their positions in the company. Deerfield Management Co. bought a new stake in shares of AveXis during the first quarter worth $60,928,000. FMR LLC raised its position in shares of AveXis by 212.8% in the second quarter. FMR LLC now owns 688,353 shares of the company’s stock worth $26,171,000 after buying an additional 468,279 shares during the period. Franklin Resources Inc. acquired a new position in shares of AveXis during the second quarter worth about $16,514,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of AveXis during the first quarter worth about $10,896,000. Finally, RA Capital Management LLC raised its position in shares of AveXis by 29.3% in the third quarter. RA Capital Management LLC now owns 1,732,274 shares of the company’s stock worth $71,387,000 after buying an additional 392,892 shares during the period. 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
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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