AveXis (AVXS) Rating Reiterated by Sanford C. Bernstein

AveXis (NASDAQ:AVXS)‘s stock had its “outperform” rating reiterated by research analysts at Sanford C. Bernstein in a research report issued to clients and investors on Tuesday. They presently have a $144.00 price target on the stock, up from their prior price target of $110.00. Sanford C. Bernstein’s price objective suggests a potential upside of 26.91% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of AveXis from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Bank of America reduced their price objective on shares of AveXis from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. Canaccord Genuity set a $110.00 price objective on shares of AveXis and gave the company a “hold” rating in a research note on Thursday, December 14th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $92.00 price objective on shares of AveXis in a research note on Tuesday, January 9th. Finally, Chardan Capital reaffirmed a “buy” rating on shares of AveXis in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. AveXis currently has an average rating of “Buy” and an average target price of $118.75.

Shares of AveXis (NASDAQ AVXS) traded down $3.08 during midday trading on Tuesday, reaching $113.47. 359,400 shares of the company’s stock traded hands, compared to its average volume of 611,534. AveXis has a 1 year low of $53.94 and a 1 year high of $128.00. The firm has a market cap of $4,252.00, a PE ratio of -20.34 and a beta of 2.10.

In other AveXis news, VP Sukumar Nagendran sold 1,780 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $94.77, for a total transaction of $168,690.60. Following the transaction, the vice president now owns 1,780 shares in the company, valued at $168,690.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian K. Kaspar sold 15,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $94.73, for a total transaction of $1,420,950.00. Following the transaction, the insider now owns 1,826,502 shares in the company, valued at approximately $173,024,534.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,560 shares of company stock worth $6,160,062. Corporate insiders own 18.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in AveXis by 31.8% during the second quarter. Vanguard Group Inc. now owns 1,575,205 shares of the company’s stock worth $129,419,000 after buying an additional 380,396 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of AveXis by 52.2% in the third quarter. Janus Henderson Group PLC now owns 1,027,221 shares of the company’s stock valued at $99,363,000 after purchasing an additional 352,456 shares during the last quarter. State Street Corp raised its holdings in shares of AveXis by 104.2% in the second quarter. State Street Corp now owns 1,000,001 shares of the company’s stock valued at $82,163,000 after purchasing an additional 510,189 shares during the last quarter. Perceptive Advisors LLC raised its holdings in shares of AveXis by 147.5% in the third quarter. Perceptive Advisors LLC now owns 671,181 shares of the company’s stock valued at $64,923,000 after purchasing an additional 400,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of AveXis in the third quarter valued at about $39,563,000. Hedge funds and other institutional investors own 82.66% of the company’s stock.

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AveXis Company Profile

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.

Analyst Recommendations for AveXis (NASDAQ:AVXS)

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