Zacks Investment Research upgraded shares of Axovant Gene Therapies (NASDAQ:AXGT) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $6.50 price target on the stock.

According to Zacks, “Axovant Sciences Ltd. is a biopharmaceutical company which focuses on the acquisition, development and commercialization of therapeutics for the treatment of neurodegenerative disorders. Its product candidate includes RVT-101 which is in different clinical trial for the treatment of Alzheimer’s disease and other forms of dementia. Axovant Sciences Ltd. is based in Hamilton, Bermuda. “

Other research analysts also recently issued reports about the stock. Robert W. Baird raised shares of Axovant Gene Therapies from a neutral rating to an outperform rating and cut their price target for the company from $16.00 to $13.00 in a report on Monday, August 12th. Leerink Swann started coverage on shares of Axovant Gene Therapies in a report on Friday, June 21st. They issued an outperform rating and a $5.79 price target for the company. Svb Leerink started coverage on shares of Axovant Gene Therapies in a report on Friday, June 21st. They issued an outperform rating and a $18.00 price target for the company. Cowen reissued a hold rating on shares of Axovant Gene Therapies in a report on Tuesday, July 9th. Finally, ValuEngine raised shares of Axovant Gene Therapies from a sell rating to a hold rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Axovant Gene Therapies presently has a consensus rating of Buy and a consensus target price of $26.91.

AXGT traded up $0.04 on Wednesday, hitting $5.70. The company’s stock had a trading volume of 59,284 shares, compared to its average volume of 99,046. The company’s 50 day simple moving average is $6.88 and its 200-day simple moving average is $5.45. The firm has a market cap of $133.49 million, a P/E ratio of -0.71 and a beta of 1.25. Axovant Gene Therapies has a 12 month low of $3.81 and a 12 month high of $20.80. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.60.

Axovant Gene Therapies (NASDAQ:AXGT) last released its quarterly earnings data on Friday, August 9th. The company reported ($1.23) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.34) by $0.11. Equities analysts predict that Axovant Gene Therapies will post -4.25 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in shares of Axovant Gene Therapies by 955.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,221 shares of the company’s stock valued at $27,000 after buying an additional 3,821 shares in the last quarter. Jane Street Group LLC raised its position in shares of Axovant Gene Therapies by 28.8% during the 2nd quarter. Jane Street Group LLC now owns 46,455 shares of the company’s stock valued at $289,000 after buying an additional 10,375 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Axovant Gene Therapies during the 1st quarter valued at $272,000. BlackRock Inc. purchased a new stake in shares of Axovant Gene Therapies during the 2nd quarter valued at $1,482,000. Finally, Primecap Management Co. CA purchased a new stake in shares of Axovant Gene Therapies during the 1st quarter valued at $1,400,000. Hedge funds and other institutional investors own 13.48% of the company’s stock.

Axovant Gene Therapies Company Profile

Axovant Gene Therapies Ltd., a clinical-stage gene therapy company, focuses on developing a pipeline of product candidates for debilitating neurological and neuromuscular diseases. The company's current pipeline of gene therapy candidates targets GM1 gangliosidosis, GM2 gangliosidosis, Parkinson's disease, oculopharyngeal muscular dystrophy, amyotrophic lateral sclerosis, and frontotemporal dementia.

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