AveXis (AVXS) Receives “Buy” Rating from BMO Capital Markets
AveXis (NASDAQ:AVXS)‘s stock had its “buy” rating reaffirmed by analysts at BMO Capital Markets in a research note issued on Thursday. They currently have a $150.00 target price on the stock. BMO Capital Markets’ price objective indicates a potential upside of 38.57% from the company’s current price.
A number of other equities analysts have also recently weighed in on AVXS. Canaccord Genuity set a $110.00 price objective on shares of AveXis and gave the stock a “hold” rating in a research report on Friday, January 5th. Zacks Investment Research upgraded shares of AveXis from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Citigroup upped their price objective on shares of AveXis from $100.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. Morgan Stanley set a $120.00 price objective on shares of AveXis and gave the stock a “buy” rating in a research report on Friday, January 5th. Finally, Chardan Capital restated a “buy” rating and set a $135.00 price objective on shares of AveXis in a research report on Friday, January 5th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $113.89.
AveXis (NASDAQ:AVXS) traded down $1.92 during trading hours on Thursday, reaching $108.25. 777,156 shares of the company’s stock were exchanged, compared to its average volume of 547,921. AveXis has a 52 week low of $50.56 and a 52 week high of $119.00.
In related news, VP Sukumar Nagendran sold 1,780 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $101.26, for a total value of $180,242.80. Following the completion of the sale, the vice president now owns 1,780 shares of the company’s stock, valued at $180,242.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James J. Litalien sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $106.52, for a total transaction of $532,600.00. The disclosure for this sale can be found here. Insiders sold 57,340 shares of company stock valued at $5,851,445 in the last three months. 18.60% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in AVXS. Janus Henderson Group PLC purchased a new stake in shares of AveXis in the second quarter valued at about $55,439,000. BlackRock Inc. grew its holdings in shares of AveXis by 34.7% in the second quarter. BlackRock Inc. now owns 2,301,229 shares of the company’s stock valued at $189,069,000 after purchasing an additional 592,843 shares during the period. FMR LLC grew its holdings in shares of AveXis by 13.1% in the second quarter. FMR LLC now owns 4,705,433 shares of the company’s stock valued at $386,598,000 after purchasing an additional 544,475 shares during the period. State Street Corp grew its holdings in shares of AveXis by 104.2% in the second quarter. State Street Corp now owns 1,000,001 shares of the company’s stock valued at $82,163,000 after purchasing an additional 510,189 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of AveXis in the third quarter valued at about $39,563,000. 92.88% of the stock is owned by hedge funds and other institutional investors.
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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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