AveXis, Inc. (NASDAQ:AVXS)‘s stock had its “hold” rating restated by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, November 2nd. They presently have a $92.00 price objective on the stock. Royal Bank of Canada’s price target would indicate a potential downside of 3.96% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the stock. Jefferies Group LLC restated a “buy” rating and issued a $108.00 price objective (up previously from $92.00) on shares of AveXis in a research report on Friday, August 11th. Chardan Capital reissued a “buy” rating and set a $130.00 price objective (up from $102.50) on shares of AveXis in a research note on Friday, August 11th. BMO Capital Markets reaffirmed a “buy” rating and issued a $123.00 target price on shares of AveXis in a research note on Friday, August 11th. Citigroup Inc. lifted their target price on shares of AveXis from $100.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. Finally, UBS AG reaffirmed a “buy” rating and issued a $122.00 target price (up from $95.00) on shares of AveXis in a research note on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. AveXis has an average rating of “Buy” and an average price target of $108.26.
AveXis (NASDAQ AVXS) traded down $3.52 during midday trading on Thursday, hitting $95.79. The company had a trading volume of 739,200 shares, compared to its average volume of 435,865. AveXis has a 52-week low of $44.68 and a 52-week high of $108.27.
AveXis (NASDAQ:AVXS) last released its quarterly earnings results on Thursday, November 9th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.48) by ($0.04). During the same period in the previous year, the firm earned ($0.87) earnings per share. analysts expect that AveXis will post -5.55 EPS for the current year.
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In related news, VP Sukumar Nagendran sold 1,780 shares of the business’s 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 of the company’s stock, valued at approximately $165,985. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian K. Kaspar sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $101.23, for a total transaction of $1,518,450.00. Following the sale, the insider now directly owns 1,841,019 shares of the company’s stock, valued at approximately $186,366,353.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,340 shares of company stock worth $3,559,683. Company insiders own 18.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new position in AveXis in the 3rd quarter worth about $116,000. Botty Investors LLC acquired a new stake in shares of AveXis in the 2nd quarter worth approximately $123,000. Ameritas Investment Partners Inc. lifted its stake in shares of AveXis by 331.0% in the 2nd 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. Teacher Retirement System of Texas acquired a new stake in shares of AveXis in the 3rd quarter worth approximately $200,000. Finally, Deschutes Portfolio Strategy LLC acquired a new stake in shares of AveXis in the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 94.84% 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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