Brokerages Set AveXis, Inc. (AVXS) PT at $101.43
AveXis, Inc. (NASDAQ:AVXS) has received a consensus rating of “Buy” from the seventeen brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $102.93.
AVXS has been the subject of a number of research reports. Citigroup Inc. initiated coverage on AveXis in a research note on Tuesday, May 23rd. They issued a “buy” rating and a $90.00 price target for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $92.00 target price on shares of AveXis in a research report on Thursday, May 25th. Nomura started coverage on AveXis in a research report on Monday, August 28th. They set a “reduce” rating and a $52.00 target price for the company. Instinet started coverage on AveXis in a research report on Tuesday, August 29th. They set a “reduce” rating and a $52.00 target price for the company. Finally, Zacks Investment Research raised AveXis from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th.
In other AveXis news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $91.52, for a total transaction of $162,905.60. Following the completion of the sale, the vice president now directly owns 1,780 shares in the company, valued at approximately $162,905.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 5,340 shares of company stock valued at $474,637. Company insiders own 18.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of AVXS. Quantbot Technologies LP acquired a new stake in AveXis during the 1st quarter worth about $117,000. Botty Investors LLC acquired a new stake in AveXis during the 2nd quarter worth about $123,000. Ameritas Investment Partners Inc. grew its holdings in AveXis by 331.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,112 shares of the company’s stock worth $174,000 after acquiring an additional 1,622 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in AveXis during the 1st quarter worth about $205,000. Finally, Seven Bridges Advisors LLC grew its holdings in AveXis by 49.4% during the 2nd quarter. Seven Bridges Advisors LLC now owns 2,557 shares of the company’s stock worth $210,000 after acquiring an additional 846 shares during the period. Hedge funds and other institutional investors own 94.71% of the company’s stock.
Shares of AveXis (NASDAQ AVXS) traded down 0.58% during midday trading on Tuesday, hitting $92.76. The company had a trading volume of 110,173 shares. The stock’s 50-day moving average price is $92.45 and its 200-day moving average price is $78.77. AveXis has a one year low of $32.31 and a one year high of $99.45. The stock’s market capitalization is $2.96 billion.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($2.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.97) by $1.10. During the same quarter in the prior year, the company posted ($0.68) earnings per share. Analysts predict that AveXis will post ($5.94) EPS for the current year.
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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.
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