Zacks Investment Research upgraded shares of AveXis, Inc. (NASDAQ:AVXS) from a sell rating to a hold rating in a research note published on Thursday.

According to Zacks, “AveXis, Inc. is a gene therapy company which develops and commercializes treatments for neurological genetic diseases primarily in United States. The Company’s product candidate consists of AVXS-101 which is in clinical trial for the treatment of spinal muscular atrophy Type 1, the genetic cause of infant mortality. AveXis, Inc. is headquartered in Bannockburn, Illinois. “

AVXS has been the subject of a number of other research reports. Nomura initiated coverage on AveXis in a research report on Monday, August 28th. They issued a reduce rating and a $52.00 target price for the company. Jefferies Group LLC restated a buy rating and issued a $108.00 target price (up previously from $92.00) on shares of AveXis in a research report on Friday, August 11th. BMO Capital Markets restated an outperform rating and issued a $95.00 target price on shares of AveXis in a research report on Friday, June 16th. Morgan Stanley restated an overweight rating and issued a $118.00 target price on shares of AveXis in a research report on Wednesday, August 9th. Finally, William Blair initiated coverage on AveXis in a research report on Wednesday, August 23rd. They issued an outperform rating and a $107.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $99.75.

AveXis (AVXS) opened at 92.85 on Thursday. The company has a 50-day moving average of $92.73 and a 200-day moving average of $78.87. AveXis has a one year low of $32.31 and a one year high of $99.45. The company’s market cap is $2.96 billion.

AveXis (NASDAQ:AVXS) last released its earnings results on Thursday, August 10th. The company reported ($2.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.97) by $1.10. During the same period in the prior year, the company posted ($0.68) earnings per share. Equities research analysts expect that AveXis will post ($6.04) EPS for the current fiscal year.

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In other AveXis news, VP Sukumar Nagendran sold 1,780 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $91.52, for a total value of $162,905.60. Following the completion of the sale, the vice president now owns 1,780 shares in the company, valued at $162,905.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 5,340 shares of company stock valued at $474,637 in the last quarter. Corporate insiders own 18.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AVXS. Teachers Advisors LLC raised its holdings in shares of AveXis by 602.2% during the fourth quarter. Teachers Advisors LLC now owns 52,830 shares of the company’s stock valued at $2,522,000 after acquiring an additional 45,306 shares in the last quarter. Nationwide Fund Advisors raised its holdings in shares of AveXis by 9.0% during the first quarter. Nationwide Fund Advisors now owns 3,444 shares of the company’s stock valued at $262,000 after acquiring an additional 284 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of AveXis by 30.2% during the first quarter. Russell Investments Group Ltd. now owns 17,550 shares of the company’s stock valued at $1,335,000 after acquiring an additional 4,067 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of AveXis by 27.8% during the first quarter. Bank of New York Mellon Corp now owns 62,922 shares of the company’s stock valued at $4,784,000 after acquiring an additional 13,691 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its holdings in shares of AveXis by 44.9% during the first quarter. Pictet Asset Management Ltd. now owns 153,606 shares of the company’s stock valued at $11,679,000 after acquiring an additional 47,588 shares in the last quarter. Hedge funds and other institutional investors 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.

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