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.
COPYRIGHT VIOLATION WARNING: “Royal Bank of Canada Reaffirms “Hold” Rating for AveXis (AVXS)” was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/01/09/royal-bank-of-canada-reaffirms-hold-rating-for-avexis-avxs.html.
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.
Receive News & Ratings for AveXis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AveXis and related companies with MarketBeat.com's FREE daily email newsletter.