Zacks Investment Research upgraded shares of AveXis (NASDAQ:AVXS) from a sell rating to a hold rating in a research report released on Tuesday.
According to Zacks, “AveXis, Inc. is a gene therapy company which develops and commercializes treatments for neurological genetic diseases primarily in United States. The Company’s product candidate consists of AVXS-101 which is in clinical trial for the treatment of spinal muscular atrophy Type 1, the genetic cause of infant mortality. AveXis, Inc. is headquartered in Bannockburn, Illinois. “
A number of other research analysts also recently issued reports on AVXS. Royal Bank of Canada started coverage on AveXis in a report on Thursday, September 14th. They issued a sector perform rating and a $92.00 price target on the stock. Wells Fargo & Co reiterated an outperform rating on shares of AveXis in a report on Friday, September 29th. BMO Capital Markets reiterated an outperform rating and issued a $123.00 price target on shares of AveXis in a report on Saturday, September 30th. Citigroup lifted their price target on AveXis from $100.00 to $116.00 and gave the company a buy rating in a report on Monday, October 2nd. Finally, UBS Group reiterated a buy rating and issued a $122.00 price target (up from $95.00) on shares of AveXis in a report on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. AveXis has an average rating of Buy and a consensus price target of $111.67.
AveXis (NASDAQ:AVXS) last released its quarterly earnings data on Thursday, November 9th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.04). During the same period in the prior year, the firm posted ($0.87) earnings per share. research analysts anticipate that AveXis will post -6.23 EPS for the current year.
In other news, VP Andrew F. Knudten sold 2,000 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $94.48, for a total value of $188,960.00. Following the completion of the sale, the vice president now owns 7,000 shares of the company’s stock, valued at approximately $661,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian K. Kaspar sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $101.23, for a total value of $1,518,450.00. Following the completion of 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. Insiders sold a total of 52,340 shares of company stock valued at $5,318,845 in the last three months. Insiders own 18.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Strs Ohio acquired a new stake in shares of AveXis in the 3rd quarter worth $116,000. Ameritas Investment Partners Inc. lifted its position in AveXis by 331.0% during 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. Cubist Systematic Strategies LLC lifted its position in AveXis by 688.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock worth $175,000 after acquiring an additional 1,577 shares during the period. Teacher Retirement System of Texas acquired a new stake in AveXis during the 3rd quarter worth about $200,000. Finally, Deschutes Portfolio Strategy LLC acquired a new stake in AveXis during the 3rd quarter worth about $203,000. 92.88% of the stock is owned by hedge funds and other institutional investors.
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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