Zacks Investment Research cut shares of AveXis, Inc. (NASDAQ:AVXS) from a buy rating to a hold rating in a research note issued to investors on Monday, October 30th.
According to Zacks, “AveXis, Inc. is a gene therapy company which develops and commercializes treatments for neurological genetic diseases primarily in United States. The Company’s product candidate consists of AVXS-101 which is in clinical trial for the treatment of spinal muscular atrophy Type 1, the genetic cause of infant mortality. AveXis, Inc. is headquartered in Bannockburn, Illinois. “
AVXS has been the subject of several other reports. Sanford C. Bernstein assumed coverage on AveXis in a report on Thursday, July 27th. They issued an outperform rating and a $108.00 target price for the company. Morgan Stanley initiated coverage on AveXis in a research note on Thursday, August 3rd. They set an overweight rating and a $118.00 price objective for the company. BMO Capital Markets reaffirmed a buy rating and set a $123.00 price objective on shares of AveXis in a research note on Friday, August 11th. Chardan Capital reaffirmed a buy rating and set a $130.00 price objective (up from $102.50) on shares of AveXis in a research note on Friday, August 11th. Finally, Jefferies Group LLC reiterated a buy rating and set a $108.00 target price (up previously from $92.00) on shares of AveXis in a research report on Friday, August 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $110.67.
AveXis (NASDAQ AVXS) opened at $95.78 on Monday. AveXis has a 1 year low of $44.68 and a 1 year high of $108.27.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings data on Thursday, November 9th. The company reported ($1.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.48) by ($0.04). During the same quarter last year, the business earned ($0.87) earnings per share. research analysts predict that AveXis will post -6.23 EPS for the current year.
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In other news, insider Brian K. Kaspar sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $101.46, for a total transaction of $1,521,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sukumar Nagendran sold 1,780 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $93.25, for a total value of $165,985.00. Following the sale, the vice president now owns 1,780 shares of the company’s stock, valued at $165,985. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,340 shares of company stock valued at $3,559,683. 18.60% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of AVXS. Strs Ohio acquired a new position in AveXis in the third quarter worth about $116,000. Botty Investors LLC bought a new position in AveXis in the second quarter worth about $123,000. Ameritas Investment Partners Inc. lifted its holdings in AveXis by 331.0% in the second quarter. Ameritas Investment Partners Inc. now owns 2,112 shares of the company’s stock worth $174,000 after acquiring an additional 1,622 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in AveXis by 688.6% in the third quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock worth $175,000 after acquiring an additional 1,577 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in AveXis in the third quarter worth about $200,000. Institutional investors and hedge funds own 94.96% of the company’s stock.
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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