AveXis (AVXS) Upgraded at Zacks Investment Research

AveXis (NASDAQ:AVXS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, January 9th.

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. “

Other equities analysts also recently issued research reports about the company. Jefferies Group upped their price objective on AveXis to $118.00 and gave the company a “buy” rating in a research report on Thursday, October 12th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $130.00 price objective on shares of AveXis in a research report on Friday, October 6th. UBS Group reaffirmed a “buy” rating and issued a $122.00 price objective (up previously from $95.00) on shares of AveXis in a research report on Tuesday, October 3rd. Citigroup upped their price objective on AveXis from $100.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. Finally, Bank of America cut their price objective on AveXis from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $113.89.

AveXis (AVXS) traded down $0.14 during midday trading on Tuesday, reaching $104.87. The company had a trading volume of 2,910,300 shares, compared to its average volume of 766,973. AveXis has a one year low of $50.56 and a one year high of $119.00. The stock has a market cap of $3,357.84, a PE ratio of -18.79 and a beta of 2.46.

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 Thomson Reuters’ consensus estimate of ($1.48) by ($0.04). During the same period last year, the firm earned ($0.87) earnings per share. equities analysts predict that AveXis will post -6.15 EPS for the current year.

In related news, VP Sukumar Nagendran sold 1,780 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $101.26, for a total transaction of $180,242.80. Following the sale, the vice president now directly owns 1,780 shares of the company’s stock, valued at $180,242.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian K. Kaspar sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $109.75, for a total value of $1,646,250.00. Following the completion of the sale, the insider now directly owns 1,808,386 shares in the company, valued at $198,470,363.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,340 shares of company stock valued at $5,318,845. 18.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC purchased a new position in shares of AveXis in the second quarter valued at approximately $55,439,000. BlackRock Inc. lifted its position in 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 in the last quarter. Alliancebernstein L.P. lifted its position in 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 in the last quarter. FMR LLC lifted its position in 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 in the last quarter. Finally, State Street Corp lifted its position in 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 in the last quarter. 92.88% of the stock is currently owned by 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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