AveXis Inc. (NASDAQ:AVXS)’s share price shot up 6.3% during trading on Monday after Jefferies Group raised their price target on the stock from $42.00 to $50.00. Jefferies Group currently has a buy rating on the stock. AveXis traded as high as $44.88 and last traded at $44.35, with a volume of 405,789 shares changing hands. The stock had previously closed at $41.72.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of AveXis from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price objective on shares of AveXis in a research note on Friday, August 12th. Finally, Wells Fargo & Co. raised shares of AveXis from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 17th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. AveXis currently has a consensus rating of “Buy” and a consensus target price of $47.00.
In other news, insider Paul B. Manning sold 289,855 shares of AveXis stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $34.50, for a total value of $9,999,997.50. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Foresite Capital Management III LLC purchased a new position in shares of AveXis during the first quarter valued at approximately $4,582,000. TIAA CREF Investment Management LLC purchased a new position in shares of AveXis during the first quarter valued at approximately $253,000. BlackRock Inc. purchased a new position in shares of AveXis during the first quarter valued at approximately $563,000. BlackRock Group LTD purchased a new position in shares of AveXis during the first quarter valued at approximately $2,223,000. Finally, BlackRock Fund Advisors purchased a new position in shares of AveXis during the first quarter valued at approximately $3,245,000. Institutional investors own 54.46% of the company’s stock.
The stock’s market capitalization is $1.02 billion. The company has a 50-day moving average of $37.22 and a 200 day moving average of $33.85.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.09. On average, equities analysts predict that AveXis Inc. will post ($3.35) EPS for the current year.
AveXis Company Profile
AveXis, Inc, formerly Biolife Cell Bank, Inc, is a clinical-stage gene therapy company. The Company operates through 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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