AveXis Inc. (NASDAQ:AVXS)‘s stock had its “outperform” rating reissued by stock analysts at BMO Capital Markets in a report released on Monday. They presently have a $52.00 price target on the stock. BMO Capital Markets’ price target suggests a potential upside of 6.19% from the stock’s current price.
Several other analysts also recently weighed in on AVXS. Zacks Investment Research upgraded shares of AveXis from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of AveXis in a research report on Friday, August 12th. Jefferies Group upgraded shares of AveXis from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Friday, August 12th. Finally, Wells Fargo & Co. upgraded shares of AveXis from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 17th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $51.20.
Shares of AveXis (NASDAQ:AVXS) opened at 48.97 on Monday. The firm’s market cap is $1.13 billion. The company’s 50-day moving average is $40.16 and its 200-day moving average is $36.16. AveXis has a 12 month low of $17.40 and a 12 month high of $50.19.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.68) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.77) by $0.09. On average, equities research analysts forecast that AveXis will post ($3.30) earnings per share for the current fiscal year.
In related news, insider Paul B. Manning sold 289,855 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in AveXis during the second quarter worth approximately $1,204,000. Candriam Luxembourg S.C.A. acquired a new stake in AveXis during the second quarter worth approximately $1,825,000. Deerfield Management Co. acquired a new stake in AveXis during the first quarter worth approximately $60,928,000. Adage Capital Partners GP L.L.C. acquired a new stake in AveXis during the first quarter worth approximately $10,896,000. Finally, VHCP Management II LLC acquired a new stake in AveXis during the first quarter worth approximately $24,501,000. Institutional investors and hedge funds own 54.46% of the company’s stock.
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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