Goldman Sachs Group, Inc. (The) reiterated their buy rating on shares of AveXis, Inc. (NASDAQ:AVXS) in a report issued on Friday, October 6th, MarketBeat reports. The brokerage currently has a $130.00 target price on the stock.
A number of other research firms have also weighed in on AVXS. BMO Capital Markets reissued a buy rating and issued a $123.00 target price on shares of AveXis in a research note on Friday, August 11th. Zacks Investment Research raised shares of AveXis from a sell rating to a hold rating in a research note on Thursday, July 13th. Morgan Stanley restated an overweight rating and set a $118.00 price target on shares of AveXis in a report on Wednesday, August 9th. Citigroup Inc. set a $100.00 price target on shares of AveXis and gave the stock a buy rating in a report on Thursday, June 15th. Finally, Wells Fargo & Company restated an outperform rating and set a $134.00 price target (up previously from $89.00) on shares of AveXis in a report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. AveXis presently has a consensus rating of Buy and an average target price of $107.38.
AveXis (NASDAQ AVXS) opened at 101.22 on Friday. The stock’s 50 day moving average price is $95.55 and its 200-day moving average price is $84.31. AveXis has a 12 month low of $43.06 and a 12 month high of $106.00. The stock’s market cap is $3.23 billion.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings results on Thursday, August 10th. The company reported ($2.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.97) by ($1.10). During the same quarter in the previous year, the firm earned ($0.68) EPS. Analysts anticipate that AveXis will post ($6.22) EPS for the current fiscal year.
In other news, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $91.52, for a total transaction of $162,905.60. Following the completion of the sale, the vice president now directly owns 1,780 shares of the company’s stock, valued at approximately $162,905.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction on Monday, October 9th. The stock was sold at an average price of $101.46, for a total transaction of $1,521,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,340 shares of company stock valued at $2,023,896. Insiders own 18.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in AveXis by 13.1% in the second quarter. FMR LLC now owns 4,705,433 shares of the company’s stock valued at $386,598,000 after acquiring an additional 544,475 shares during the last quarter. BlackRock Inc. lifted its position in AveXis by 34.7% in the second quarter. BlackRock Inc. now owns 2,301,229 shares of the company’s stock valued at $189,069,000 after acquiring an additional 592,843 shares during the last quarter. Vanguard Group Inc. lifted its position in AveXis by 31.8% in the second quarter. Vanguard Group Inc. now owns 1,575,205 shares of the company’s stock valued at $129,419,000 after acquiring an additional 380,396 shares during the last quarter. State Street Corp lifted its position in AveXis by 104.2% in the second quarter. State Street Corp now owns 1,000,001 shares of the company’s stock valued at $82,163,000 after acquiring an additional 510,189 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in AveXis by 32.8% in the first quarter. Point72 Asset Management L.P. now owns 717,514 shares of the company’s stock valued at $54,553,000 after acquiring an additional 177,114 shares during the last quarter. 94.71% of the stock is owned by institutional investors and hedge funds.
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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