AveXis, Inc. (AVXS) Expected to Post Earnings of -$1.51 Per Share
Wall Street analysts expect that AveXis, Inc. (NASDAQ:AVXS) will post ($1.51) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for AveXis’ earnings, with the highest EPS estimate coming in at ($0.69) and the lowest estimate coming in at ($1.91). AveXis reported earnings of ($0.92) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 64.1%. The business is expected to report its next earnings report on Thursday, March 15th.
According to Zacks, analysts expect that AveXis will report full-year earnings of ($6.23) per share for the current year, with EPS estimates ranging from ($6.61) to ($5.36). For the next fiscal year, analysts anticipate that the firm will report earnings of ($5.92) per share, with EPS estimates ranging from ($7.33) to ($2.90). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover AveXis.
AveXis (NASDAQ:AVXS) last released its quarterly earnings data on Thursday, November 9th. The company reported ($1.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.48) by ($0.04). During the same quarter last year, the firm earned ($0.87) EPS.
A number of equities research analysts have recently issued reports on AVXS shares. Sanford C. Bernstein began coverage on shares of AveXis in a report on Thursday, July 27th. They issued an “outperform” rating and a $108.00 price target on the stock. Morgan Stanley began coverage on shares of AveXis in a research report on Thursday, August 3rd. They issued an “overweight” rating and a $118.00 price objective on the stock. BMO Capital Markets restated a “buy” rating and issued a $123.00 price objective on shares of AveXis in a research report on Friday, August 11th. Chardan Capital restated a “buy” rating and issued a $130.00 price objective (up from $102.50) on shares of AveXis in a research report on Friday, August 11th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $108.00 price objective (up from $92.00) on shares of AveXis in a research report on Friday, August 11th. Two investment 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. The company currently has a consensus rating of “Buy” and an average price target of $110.67.
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Shares of AveXis (NASDAQ:AVXS) opened at $97.28 on Friday. AveXis has a fifty-two week low of $44.68 and a fifty-two week high of $108.27.
In other news, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $93.25, for a total value of $165,985.00. Following the completion of the transaction, the vice president now owns 1,780 shares of the company’s stock, valued at approximately $165,985. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $101.46, for a total value of $1,521,900.00. The disclosure for this sale can be found here. Insiders have sold 35,340 shares of company stock valued at $3,559,683 in the last three months. Insiders own 18.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank increased its holdings in AveXis by 19.6% in the 3rd quarter. Amalgamated Bank now owns 3,187 shares of the company’s stock worth $308,000 after buying an additional 523 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of AveXis by 2.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 20,943 shares of the company’s stock valued at $1,721,000 after purchasing an additional 598 shares during the period. American International Group Inc. grew its stake in shares of AveXis by 26.7% during the 1st quarter. American International Group Inc. now owns 3,521 shares of the company’s stock valued at $268,000 after purchasing an additional 742 shares during the period. Seven Bridges Advisors LLC grew its stake in shares of AveXis by 49.4% during the 2nd quarter. Seven Bridges Advisors LLC now owns 2,557 shares of the company’s stock valued at $210,000 after purchasing an additional 846 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of AveXis by 0.5% during the 2nd quarter. Jennison Associates LLC now owns 184,668 shares of the company’s stock valued at $15,172,000 after purchasing an additional 882 shares during the period. Institutional investors own 94.96% 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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