Jefferies Group Increases AveXis Inc. (AVXS) Price Target to $58.00

AveXis Inc. (NASDAQ:AVXS) had its price objective lifted by analysts at Jefferies Group from $50.00 to $58.00 in a research report issued on Wednesday. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price indicates a potential upside of 23.30% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded AveXis from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Tuesday, August 16th. Wells Fargo & Co. initiated coverage on AveXis in a research note on Friday, July 15th. They issued a “market perform” rating for the company. BMO Capital Markets restated an “outperform” rating and issued a $52.00 target price on shares of AveXis in a research note on Monday. Finally, Chardan Capital restated a “buy” rating and issued a $60.00 target price on shares of AveXis in a research note on Friday, August 12th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. AveXis currently has a consensus rating of “Buy” and a consensus target price of $52.80.

Analyst Recommendations for AveXis (NASDAQ:AVXS)

AveXis (NASDAQ:AVXS) opened at 47.04 on Wednesday. The firm has a 50-day moving average price of $40.53 and a 200 day moving average price of $36.31. AveXis has a 52-week low of $16.11 and a 52-week high of $50.19. The stock’s market cap is $1.08 billion.

AveXis (NASDAQ:AVXS) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.09. On average, 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 firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $34.50, for a total transaction of $9,999,997.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Deerfield Management Co. bought a new position in AveXis during the first quarter worth $60,928,000. VHCP Management II LLC bought a new position in AveXis during the first quarter worth $24,501,000. FMR LLC raised its position in AveXis by 212.8% in the second quarter. FMR LLC now owns 688,353 shares of the company’s stock worth $26,171,000 after buying an additional 468,279 shares during the period. Franklin Resources Inc. bought a new position in AveXis during the second quarter worth $16,514,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in AveXis during the first quarter worth $10,896,000. 54.46% of the stock is owned by institutional investors.

About AveXis

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.

5 Day Chart for NASDAQ:AVXS

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