AveXis (AVXS) Lifted to Hold at Zacks Investment Research

AveXis (NASDAQ:AVXS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $92.00 price objective on shares of AveXis in a report on Thursday, November 2nd. Citigroup set a $132.00 target price on AveXis and gave the stock a “buy” rating in a report on Friday, January 5th. Chardan Capital reissued a “buy” rating and issued a $135.00 target price on shares of AveXis in a report on Friday, January 5th. UBS Group set a $122.00 target price on AveXis and gave the stock a “buy” rating in a report on Friday, January 5th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $123.00 price objective on shares of AveXis in a research report on Saturday, September 30th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $112.84.

AveXis (NASDAQ AVXS) traded down $0.14 during trading on Tuesday, hitting $104.87. The stock had a trading volume of 2,910,348 shares, compared to its average volume of 448,401. The company has a market capitalization of $3,350.00 and a price-to-earnings ratio of -18.79. AveXis has a twelve month low of $50.56 and a twelve month high of $119.00.

AveXis (NASDAQ:AVXS) last issued its quarterly earnings results on Thursday, November 9th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.48) by ($0.04). During the same quarter in the previous year, the company posted ($0.87) earnings per share. equities analysts expect that AveXis will post -6.23 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 shares were sold at an average price of $101.26, for a total value of $180,242.80. Following the completion of the sale, the vice president now directly owns 1,780 shares in the company, valued at approximately $180,242.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew F. Knudten sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $94.48, for a total transaction of $188,960.00. Following the completion of the sale, 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. Over the last ninety days, insiders sold 52,340 shares of company stock valued at $5,318,845. Company insiders own 18.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in AVXS. Strs Ohio bought a new position in AveXis in the 3rd quarter valued at about $116,000. Ameritas Investment Partners Inc. raised its holdings in AveXis by 331.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,112 shares of the company’s stock valued at $174,000 after acquiring an additional 1,622 shares during the period. Cubist Systematic Strategies LLC raised its holdings in AveXis by 688.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock valued at $175,000 after acquiring an additional 1,577 shares during the period. Teacher Retirement System of Texas bought a new position in AveXis in the 3rd quarter valued at about $200,000. Finally, Deschutes Portfolio Strategy LLC bought a new position in AveXis in the 3rd quarter valued at about $203,000. 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.

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