AveXis (NASDAQ:AVXS)‘s stock had its “buy” rating reissued by stock analysts at Chardan Capital in a report issued on Friday, January 5th. They currently have a $135.00 price target on the stock. Chardan Capital’s price objective indicates a potential upside of 14.89% from the company’s previous close.
The analysts wrote, “We would encourage buying on any AVXS weakness today, on the potential that the market may have understandably misunderstood what could be an atypical but stepped up process in terms of filing timelines for AVXS-101 in SMA type 1. Our take: Our base case (see our 15 June 2017 note) of a filing after pivotal STR1VE (NCT03306277) phase III data seems to have been improved upon. There are reasons to believe AveXis could file AVXS-101 by 3Q18, with a blue skies” scenario involving AVXS-101 approval by end-2018 or early-2019. We note AveXis’ appropriately non-promotional commentary when executing its duties in communicating status of important regulatory matters to the market.””
Other research analysts also recently issued research reports about the stock. Jefferies Group lifted their price objective on shares of 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 set a $130.00 target price on shares of AveXis in a report on Friday, October 6th. UBS Group reaffirmed a “buy” rating and set a $122.00 target price (up previously from $95.00) on shares of AveXis in a report on Tuesday, October 3rd. Citigroup lifted their target price on shares of AveXis from $100.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research raised shares of AveXis from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a report on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. AveXis presently has an average rating of “Buy” and a consensus price target of $111.67.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings data on Thursday, November 9th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.04). During the same quarter in the prior year, the company earned ($0.87) EPS. equities research analysts forecast that AveXis will post -6.23 earnings per share for the current year.
In related news, insider Brian K. Kaspar sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $101.23, for a total transaction of $1,518,450.00. Following the completion of the transaction, the insider now directly owns 1,841,019 shares in the company, valued at approximately $186,366,353.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Andrew F. Knudten sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $94.48, for a total transaction of $188,960.00. Following the transaction, the vice president now owns 7,000 shares of the company’s stock, valued at $661,360. 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 90 days. Corporate insiders own 18.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in AveXis during the 3rd quarter worth approximately $116,000. Cubist Systematic Strategies LLC increased its position in AveXis by 688.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock worth $175,000 after purchasing an additional 1,577 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in AveXis during the 3rd quarter worth approximately $200,000. Deschutes Portfolio Strategy LLC bought a new stake in AveXis during the 3rd quarter worth approximately $203,000. Finally, Ameritas Investment Partners Inc. grew its holdings in AveXis by 331.0% during 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 during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.
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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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