Royal Bank of Canada Reaffirms “Hold” Rating for AveXis (AVXS)

AveXis (NASDAQ:AVXS)‘s stock had its “hold” rating reissued by analysts at Royal Bank of Canada in a note issued to investors on Tuesday. They presently have a $92.00 target price on the stock. Royal Bank of Canada’s price objective points to a potential downside of 17.75% from the stock’s current price.

AVXS has been the subject of a number of other reports. Zacks Investment Research downgraded shares of AveXis from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Bank of America dropped their price target on shares of AveXis from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, November 10th. Canaccord Genuity started coverage on shares of AveXis in a research report on Thursday, October 26th. They issued a “hold” rating and a $110.00 price target for the company. Wells Fargo & Co reiterated an “outperform” rating on shares of AveXis in a research report on Friday, September 29th. Finally, Chardan Capital reiterated a “buy” rating on shares of AveXis in a research report on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $111.67.

Shares of AveXis (NASDAQ AVXS) traded up $5.53 during mid-day trading on Tuesday, reaching $111.85. 332,406 shares of the company’s stock traded hands, compared to its average volume of 485,050. AveXis has a 1 year low of $50.56 and a 1 year high of $116.15. The firm has a market capitalization of $3,510.00 and a P/E ratio of -20.04.

AveXis (NASDAQ:AVXS) last released its quarterly earnings results on Thursday, November 9th. The company reported ($1.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.04). During the same quarter in the prior year, the business posted ($0.87) EPS. research analysts expect that AveXis will post -6.23 earnings per share for the current year.

In other AveXis news, VP Andrew F. Knudten sold 2,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $94.48, for a total transaction of $188,960.00. Following the sale, the vice president now owns 7,000 shares of the company’s stock, valued at $661,360. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian K. Kaspar sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $101.23, for a total transaction of $1,518,450.00. Following the sale, the insider now directly owns 1,841,019 shares in the company, valued at approximately $186,366,353.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,340 shares of company stock valued at $5,318,845. Company insiders own 18.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AVXS. Janus Henderson Group PLC bought a new stake in shares of AveXis during the second quarter worth $55,439,000. BlackRock Inc. grew its stake in shares of AveXis by 34.7% during the second quarter. BlackRock Inc. now owns 2,301,229 shares of the company’s stock worth $189,069,000 after buying an additional 592,843 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of AveXis by 4,448.8% during the second quarter. Alliancebernstein L.P. now owns 564,966 shares of the company’s stock worth $46,418,000 after buying an additional 552,546 shares during the last quarter. FMR LLC grew its stake in shares of AveXis by 13.1% during the second quarter. FMR LLC now owns 4,705,433 shares of the company’s stock worth $386,598,000 after buying an additional 544,475 shares during the last quarter. Finally, State Street Corp grew its stake in shares of AveXis by 104.2% during the second quarter. State Street Corp now owns 1,000,001 shares of the company’s stock worth $82,163,000 after buying an additional 510,189 shares during the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

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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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