BMO Capital Markets Reaffirms Outperform Rating for AveXis, Inc. (AVXS)
AveXis, Inc. (NASDAQ:AVXS)‘s stock had its “outperform” rating restated by equities researchers at BMO Capital Markets in a note issued to investors on Saturday. They presently have a $123.00 price objective on the stock. BMO Capital Markets’ price target indicates a potential upside of 27.16% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Jefferies Group LLC reissued a “buy” rating and set a $108.00 price target (up from $92.00) on shares of AveXis in a report on Friday, August 11th. Chardan Capital reissued a “buy” rating and set a $130.00 price target (up from $102.50) on shares of AveXis in a report on Friday, August 11th. Citigroup Inc. set a $100.00 price target on shares of AveXis and gave the stock a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research raised shares of AveXis from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, William Blair started coverage on shares of AveXis in a report on Wednesday, August 23rd. They set an “outperform” rating and a $107.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. AveXis has an average rating of “Buy” and a consensus target price of $99.29.
Shares of AveXis (AVXS) traded up 4.92% during trading on Friday, reaching $96.73. The company had a trading volume of 1,332,318 shares. The firm has a 50-day moving average of $93.16 and a 200 day moving average of $80.70. AveXis has a 1-year low of $38.46 and a 1-year high of $101.67. The firm’s market capitalization is $3.09 billion.
AveXis (NASDAQ:AVXS) last posted its quarterly earnings results on Thursday, August 10th. The company reported ($2.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($1.10). During the same period in the previous year, the firm earned ($0.68) EPS. Analysts expect that AveXis will post ($6.04) earnings per share for the current year.
In other news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $91.52, for a total value of $162,905.60. Following the sale, the vice president now directly owns 1,780 shares in the company, valued at $162,905.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 5,340 shares of company stock worth $474,637 over the last quarter. Company insiders own 18.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new stake in shares of AveXis in the second quarter valued at approximately $20,614,000. Ameritas Investment Partners Inc. grew its position in shares of 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 purchasing an additional 1,622 shares during the last quarter. California State Teachers Retirement System grew its position in shares of 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 purchasing an additional 32,100 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of 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 purchasing an additional 10,827 shares during the last quarter. Finally, PointState Capital LP grew its position in shares of 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 purchasing an additional 295,600 shares during the last quarter. Institutional investors and hedge funds own 94.71% of the company’s stock.
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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