AveXis, Inc. (AVXS) PT Raised to $116.00
AveXis, Inc. (NASDAQ:AVXS) had its price objective boosted by research analysts at Citigroup Inc. from $100.00 to $116.00 in a research report issued on Monday. The brokerage currently has a “buy” rating on the stock. Citigroup Inc.’s price objective suggests a potential upside of 16.85% from the company’s previous close.
Several other research analysts have also commented on AVXS. Barclays PLC assumed coverage on shares of AveXis in a research note on Wednesday, September 6th. They set an “overweight” rating and a $124.00 price objective for the company. Nomura began coverage on shares of AveXis in a research note on Monday, August 28th. They issued a “reduce” rating and a $52.00 target price on the stock. Instinet started coverage on shares of AveXis in a research note on Tuesday, August 29th. They issued a “reduce” rating and a $52.00 target price on the stock. Zacks Investment Research upgraded shares of AveXis from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. Finally, Jefferies Group LLC restated a “buy” rating on shares of AveXis in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $101.82.
Shares of AveXis (NASDAQ AVXS) opened at 99.27 on Monday. The company’s market capitalization is $3.17 billion. The company has a 50 day moving average price of $93.36 and a 200 day moving average price of $82.25. AveXis has a 1-year low of $41.89 and a 1-year high of $102.00.
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 Thomson Reuters’ consensus estimate of ($0.97) by ($1.10). During the same quarter in the previous year, the company earned ($0.68) earnings per share. Equities analysts predict that AveXis will post ($6.04) EPS for the current fiscal year.
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In related news, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $93.25, for a total transaction of $165,985.00. Following the completion of the sale, the vice president now owns 1,780 shares in the company, valued at approximately $165,985. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 5,340 shares of company stock valued at $501,996 in the last quarter. 18.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC bought a new position in AveXis in the 2nd quarter worth about $20,614,000. Ameritas Investment Partners Inc. increased its position in shares of AveXis by 331.0% during the second 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. California State Teachers Retirement System increased its position in shares of AveXis by 280.6% during the second quarter. California State Teachers Retirement System now owns 43,538 shares of the company’s stock worth $3,577,000 after acquiring an additional 32,100 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of AveXis by 210.9% during the second quarter. The Manufacturers Life Insurance Company now owns 15,961 shares of the company’s stock worth $1,312,000 after acquiring an additional 10,827 shares during the period. Finally, PointState Capital LP increased its position in shares of AveXis by 118.7% during the second quarter. PointState Capital LP now owns 544,667 shares of the company’s stock worth $44,750,000 after acquiring an additional 295,600 shares during the period. 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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