Jefferies Group LLC Initiates Coverage on Axovant Sciences Ltd. (AXON)

Research analysts at Jefferies Group LLC began coverage on shares of Axovant Sciences Ltd. (NYSE:AXON) in a research report issued on Monday. The brokerage set a “buy” rating and a $40.00 price target on the biotechnology company’s stock. Jefferies Group LLC’s price target points to a potential upside of 81.08% from the stock’s previous close.

A number of other brokerages have also commented on AXON. Oppenheimer Holdings, Inc. boosted their price objective on shares of Axovant Sciences from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, April 17th. Cowen and Company reiterated an “outperform” rating and issued a $30.00 price objective on shares of Axovant Sciences in a report on Wednesday, June 21st. CIBC boosted their price objective on shares of Axovant Sciences from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, April 18th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $32.00 price objective on shares of Axovant Sciences in a report on Wednesday, April 12th. Finally, BidaskClub upgraded shares of Axovant Sciences from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $28.50.

Shares of Axovant Sciences (NYSE AXON) opened at 22.09 on Monday. Axovant Sciences has a 52 week low of $11.01 and a 52 week high of $25.18. The stock has a 50 day moving average price of $22.40 and a 200 day moving average price of $17.00. The firm’s market capitalization is $2.37 billion.

Axovant Sciences (NYSE:AXON) last posted its earnings results on Tuesday, June 13th. The biotechnology company reported ($0.53) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by $0.02. Equities analysts forecast that Axovant Sciences will post ($2.24) earnings per share for the current fiscal year.

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In related news, Director W Anthony Vernon bought 53,937 shares of the company’s stock in a transaction dated Monday, April 17th. The stock was bought at an average price of $18.54 per share, with a total value of $999,991.98. Following the transaction, the director now owns 53,937 shares of the company’s stock, valued at $999,991.98. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David Hung bought 539,375 shares of the company’s stock in a transaction dated Monday, April 17th. The stock was bought at an average cost of $18.54 per share, with a total value of $10,000,012.50. Following the transaction, the insider now directly owns 539,375 shares in the company, valued at approximately $10,000,012.50. The disclosure for this purchase can be found here. Insiders own 3.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA increased its stake in Axovant Sciences by 300.1% in the first quarter. Primecap Management Co. CA now owns 2,878,930 shares of the biotechnology company’s stock valued at $43,011,000 after buying an additional 2,159,428 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Axovant Sciences by 4.1% in the first quarter. JPMorgan Chase & Co. now owns 489,024 shares of the biotechnology company’s stock valued at $7,306,000 after buying an additional 19,129 shares during the last quarter. State Street Corp increased its stake in Axovant Sciences by 10.0% in the fourth quarter. State Street Corp now owns 353,401 shares of the biotechnology company’s stock valued at $4,391,000 after buying an additional 32,164 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Axovant Sciences by 1,718.3% in the first quarter. Point72 Asset Management L.P. now owns 209,100 shares of the biotechnology company’s stock valued at $3,124,000 after buying an additional 197,600 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its stake in Axovant Sciences by 77.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 160,000 shares of the biotechnology company’s stock valued at $2,391,000 after buying an additional 70,000 shares during the last quarter. 94.52% of the stock is owned by institutional investors.

About Axovant Sciences

Axovant Sciences Ltd. is a clinical-stage biopharmaceutical company. The Company is focused on acquiring, developing and commercializing therapeutics for the treatment of dementia, including Alzheimer’s disease and Lewy body dementia. The Company intends to develop a pipeline of product candidates to address the cognitive, functional and behavioral aspects of dementia and related neurological disorders.

Analyst Recommendations for Axovant Sciences (NYSE:AXON)

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