Several other research analysts have also commented on the company. Zacks Investment Research raised AveXis from a hold rating to a buy rating and set a $47.00 price objective for the company in a report on Tuesday, August 16th. Wells Fargo & Co. began coverage on AveXis in a research note on Friday, July 15th. They issued a market perform rating for the company. Finally, Chardan Capital reaffirmed a buy rating and issued a $60.00 target price on shares of AveXis in a research note on Friday, August 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $47.00.
AveXis (NASDAQ:AVXS) opened at 41.21 on Wednesday. The stock has a 50 day moving average of $39.28 and a 200 day moving average of $35.01. AveXis has a 12-month low of $17.40 and a 12-month high of $47.76. The firm’s market cap is $948.37 million.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.68) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.77) by $0.09. On average, equities research analysts anticipate that AveXis will post ($3.30) EPS for the current fiscal year.
In other news, insider Paul B. Manning sold 289,855 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $34.50, for a total transaction of $9,999,997.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Several hedge funds have recently added to or reduced their stakes in AVXS. Deerfield Management Co. bought a new stake in AveXis during the first quarter worth $60,928,000. BlackRock Group LTD bought a new stake in AveXis during the first quarter worth $2,223,000. VHCP Management II LLC bought a new stake in AveXis during the first quarter worth $24,501,000. BlackRock Institutional Trust Company N.A. bought a new stake in AveXis during the first quarter worth $1,024,000. Finally, Pictet Asset Management Ltd. bought a new stake in AveXis during the first quarter worth $536,000. 54.46% of the stock is owned by hedge funds and other institutional investors.
AveXis, Inc, formerly Biolife Cell Bank, Inc, is a clinical-stage gene therapy company. The Company operates through 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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