Instinet assumed coverage on shares of AveXis, Inc. (NASDAQ:AVXS) in a research note published on Tuesday, MarketBeat Ratings reports. The brokerage issued a reduce rating and a $52.00 price target on the stock.

Several other equities analysts also recently weighed in on AVXS. Citigroup Inc. initiated coverage on AveXis in a research report on Tuesday, May 23rd. They set a buy rating and a $90.00 price target for the company. Jefferies Group LLC reissued a buy rating and set a $92.00 price target on shares of AveXis in a research report on Thursday, May 25th. BMO Capital Markets reissued an outperform rating and set a $95.00 price target on shares of AveXis in a research report on Friday, June 16th. Chardan Capital set a $103.00 price target on AveXis and gave the stock a buy rating in a research report on Sunday, June 18th. Finally, Zacks Investment Research raised AveXis from a sell rating to a hold rating in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. AveXis presently has an average rating of Buy and a consensus target price of $95.57.

AveXis (AVXS) opened at 93.35 on Tuesday. AveXis has a 1-year low of $32.31 and a 1-year high of $99.45. The firm’s 50-day moving average price is $91.01 and its 200-day moving average price is $77.67. The firm’s market cap is $2.98 billion.

AveXis (NASDAQ:AVXS) last released its quarterly earnings data on Thursday, August 10th. The company reported ($2.07) earnings per share for the quarter, missing the consensus estimate of ($0.97) by $1.10. During the same quarter in the previous year, the firm earned ($0.68) earnings per share. On average, equities research analysts anticipate that AveXis will post ($5.94) earnings per share for the current year.

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In other news, VP Sukumar Nagendran sold 1,780 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $91.52, for a total transaction of $162,905.60. Following the sale, the vice president now owns 1,780 shares in the company, valued at $162,905.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.60% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new stake in AveXis during the second quarter valued at about $20,614,000. Ameritas Investment Partners Inc. boosted its stake in AveXis by 331.0% in the second quarter. Ameritas Investment Partners Inc. now owns 2,112 shares of the company’s stock valued at $174,000 after buying an additional 1,622 shares during the period. California State Teachers Retirement System boosted its stake in AveXis by 280.6% in the second quarter. California State Teachers Retirement System now owns 43,538 shares of the company’s stock valued at $3,577,000 after buying an additional 32,100 shares during the period. The Manufacturers Life Insurance Company boosted its stake in AveXis by 210.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,961 shares of the company’s stock valued at $1,312,000 after buying an additional 10,827 shares during the period. Finally, PointState Capital LP boosted its stake in AveXis by 118.7% in the second quarter. PointState Capital LP now owns 544,667 shares of the company’s stock valued at $44,750,000 after buying an additional 295,600 shares during the period. Institutional investors and hedge funds own 94.71% of the company’s stock.

AveXis Company Profile

AveXis, Inc is a clinical-stage gene therapy company. The Company operates through the 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.

Analyst Recommendations for AveXis (NASDAQ:AVXS)

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