Morgan Stanley set a $120.00 target price on AveXis (NASDAQ:AVXS) in a research note issued to investors on Friday, January 5th. The firm currently has a buy rating on the stock.
A number of other brokerages also recently issued reports on AVXS. Citigroup set a $132.00 price objective on AveXis and gave the stock a buy rating in a research report on Friday, January 5th. Canaccord Genuity set a $110.00 target price on AveXis and gave the stock a hold rating in a research note on Wednesday, December 20th. BidaskClub cut AveXis from a hold rating to a sell rating in a research note on Thursday, December 14th. Bank of America cut their target price on AveXis from $115.00 to $112.00 and set a buy rating on the stock in a research report on Friday, November 10th. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $130.00 target price (up previously from $123.00) on shares of AveXis in a research report on Thursday, October 12th. 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 stock. The company presently has a consensus rating of Buy and a consensus target price of $111.67.
AveXis (NASDAQ AVXS) traded up $1.16 during trading on Friday, reaching $117.50. The company’s stock had a trading volume of 624,968 shares, compared to its average volume of 383,821. The company has a market capitalization of $3,720.14, a P/E ratio of -21.06 and a beta of 2.46. AveXis has a 1 year low of $50.56 and a 1 year high of $119.00.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings data on Thursday, November 9th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.48) by ($0.04). During the same period in the prior year, the company posted ($0.87) earnings per share. sell-side analysts anticipate that AveXis will post -6.23 earnings per share for the current fiscal year.
In other AveXis news, insider Brian K. Kaspar sold 15,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 1,841,019 shares of the company’s stock, valued at approximately $186,366,353.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sukumar Nagendran sold 1,780 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $101.26, for a total value of $180,242.80. Following the transaction, the vice president now directly owns 1,780 shares of the company’s stock, valued at approximately $180,242.80. The disclosure for this sale can be found here. Insiders sold a total of 52,340 shares of company stock valued at $5,318,845 over the last quarter. Company insiders own 18.60% of the company’s stock.
Large investors have recently made changes to their positions in the company. Strs Ohio bought a new position in shares of AveXis in the 3rd quarter worth approximately $116,000. Cubist Systematic Strategies LLC raised its position in shares of AveXis by 688.6% in the 3rd 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 in the last quarter. Teacher Retirement System of Texas bought a new position in shares of AveXis in the 3rd quarter worth approximately $200,000. Deschutes Portfolio Strategy LLC bought a new position in shares of AveXis in the 3rd quarter worth approximately $203,000. Finally, Ameritas Investment Partners Inc. raised its position in shares of AveXis by 331.0% in the 2nd 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 in the last quarter. 92.88% of the stock is 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.
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