AveXis Inc. (NASDAQ:AVXS)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group in a research report issued on Wednesday. They currently have a $50.00 price target on the stock. Jefferies Group’s price target suggests a potential upside of 20.28% from the company’s previous close.
A number of other equities research analysts also recently weighed in on AVXS. Zacks Investment Research downgraded AveXis from a “hold” rating to a “sell” rating in a research report on Wednesday, June 1st. Wells Fargo & Co. initiated coverage on AveXis in a research report on Friday, July 15th. They set a “market perform” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $47.00.
AveXis (NASDAQ:AVXS) traded up 1.39% during midday trading on Wednesday, hitting $41.57. The company’s stock had a trading volume of 259,398 shares. The stock has a 50 day moving average of $38.64 and a 200 day moving average of $34.78. The company’s market cap is $956.65 million. AveXis has a 52-week low of $17.40 and a 52-week high of $47.76.
AveXis (NASDAQ:AVXS) last released its quarterly earnings results on Thursday, August 11th. The company reported ($0.68) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.77) by $0.09. On average, equities analysts expect that AveXis will post ($3.30) EPS for the current year.
In other news, insider Paul B. Manning sold 289,855 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $34.50, for a total transaction of $9,999,997.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Several hedge funds and other institutional investors have recently made changes to their positions in AVXS. American International Group Inc. bought a new position in shares of AveXis during the second quarter worth about $106,000. Nationwide Fund Advisors acquired a new stake in AveXis during the second quarter valued at about $120,000. TIAA CREF Investment Management LLC acquired a new stake in AveXis during the first quarter valued at about $253,000. TD Asset Management Inc. acquired a new stake in AveXis during the second quarter valued at about $259,000. Finally, Teachers Advisors Inc. boosted its stake in AveXis by 74.1% in the second quarter. Teachers Advisors Inc. now owns 7,524 shares of the company’s stock valued at $286,000 after buying an additional 3,202 shares during the last quarter. 54.46% of the stock is currently owned by hedge funds and other institutional investors.
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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