AveXis (NASDAQ:AVXS)‘s stock had its “outperform” rating reaffirmed by Sanford C. Bernstein in a research report issued on Tuesday, February 20th. They currently have a $144.00 price target on the stock, up from their previous price target of $110.00. Sanford C. Bernstein’s price target indicates a potential upside of 7.13% from the company’s current price.
A number of other brokerages have also commented on AVXS. Citigroup set a $132.00 price objective on shares of AveXis and gave the stock a “buy” rating in a report on Friday, January 5th. Canaccord Genuity set a $110.00 price objective on shares of AveXis and gave the stock a “hold” rating in a report on Wednesday, December 20th. BidaskClub lowered shares of AveXis from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Bank of America reduced their target price on shares of AveXis from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. Finally, Barclays raised their target price on shares of AveXis from $124.00 to $152.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Three analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. AveXis presently has an average rating of “Buy” and an average target price of $123.90.
Shares of AveXis (AVXS) traded up $0.61 during trading hours on Tuesday, reaching $134.41. 243,466 shares of the company’s stock were exchanged, compared to its average volume of 420,337. AveXis has a 12-month low of $65.23 and a 12-month high of $138.46. The company has a market cap of $4,940.00 and a price-to-earnings ratio of -18.64.
In related news, insider Brian K. Kaspar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $109.75, for a total value of $1,646,250.00. Following the sale, the insider now directly owns 1,808,386 shares in the company, valued at approximately $198,470,363.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew F. Knudten sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $118.13, for a total transaction of $236,260.00. Following the completion of the sale, the vice president now owns 7,000 shares in the company, valued at $826,910. The disclosure for this sale can be found here. Insiders sold a total of 65,560 shares of company stock worth $7,793,030 over the last quarter. 18.60% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in shares of AveXis in the 3rd quarter valued at approximately $116,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of AveXis by 57.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,241 shares of the company’s stock valued at $137,000 after acquiring an additional 453 shares during the period. QS Investors LLC acquired a new stake in shares of AveXis in the 4th quarter valued at approximately $156,000. Ameritas Investment Partners Inc. raised its position 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 valued at $174,000 after acquiring an additional 1,622 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in shares of AveXis by 688.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock valued at $175,000 after acquiring an additional 1,577 shares during the period. Institutional investors and hedge funds own 82.43% of the company’s stock.
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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