AveXis (AVXS) Lifted to “Strong-Buy” at BidaskClub
BidaskClub upgraded shares of AveXis (NASDAQ:AVXS) from a buy rating to a strong-buy rating in a report released on Saturday morning.
AVXS has been the subject of a number of other research reports. Sanford C. Bernstein reissued an outperform rating and issued a $144.00 price objective (up previously from $110.00) on shares of AveXis in a research note on Tuesday, February 20th. Royal Bank of Canada raised their price objective on AveXis from $92.00 to $97.00 and gave the company a sector perform rating in a research note on Friday, November 10th. Chardan Capital reissued a buy rating and issued a $135.00 price objective on shares of AveXis in a research note on Friday, January 5th. UBS Group set a $122.00 price objective on AveXis and gave the company a buy rating in a research note on Friday, January 5th. Finally, Canaccord Genuity set a $110.00 price objective on AveXis and gave the company a hold rating in a research note on Friday, January 5th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. AveXis currently has an average rating of Buy and an average price target of $123.90.
Shares of AveXis (NASDAQ:AVXS) traded up $3.03 during trading on Friday, reaching $136.93. The company’s stock had a trading volume of 422,973 shares, compared to its average volume of 360,875. AveXis has a 12-month low of $65.23 and a 12-month high of $137.91. The firm has a market capitalization of $5,028.75, a PE ratio of -18.99 and a beta of 2.02.
In related news, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $109.75, for a total transaction of $1,646,250.00. Following the sale, the insider now directly owns 1,808,386 shares in the company, valued at $198,470,363.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sean P. Nolan sold 10,000 shares of AveXis stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $129.47, for a total value of $1,294,700.00. Following the sale, the chief executive officer now owns 10,000 shares in the company, valued at $1,294,700. The disclosure for this sale can be found here. Insiders sold 65,560 shares of company stock worth $7,793,030 in the last 90 days. Corporate insiders own 18.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of AVXS. Westfield Capital Management Co. LP bought a new stake in AveXis during the third quarter worth $39,563,000. Perceptive Advisors LLC lifted its holdings in AveXis by 147.5% during the third quarter. Perceptive Advisors LLC now owns 671,181 shares of the company’s stock worth $64,923,000 after acquiring an additional 400,000 shares during the period. Janus Henderson Group PLC lifted its holdings in AveXis by 52.2% during the third quarter. Janus Henderson Group PLC now owns 1,027,221 shares of the company’s stock worth $99,363,000 after acquiring an additional 352,456 shares during the period. Carillon Tower Advisers Inc. bought a new stake in AveXis during the fourth quarter worth $24,033,000. Finally, Eagle Asset Management Inc. lifted its holdings in AveXis by 123.4% during the fourth quarter. Eagle Asset Management Inc. now owns 354,154 shares of the company’s stock worth $39,274,000 after acquiring an additional 195,626 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.
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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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