AveXis (NASDAQ:AVXS) has been assigned a $120.00 price target by equities research analysts at Morgan Stanley in a research note issued on Friday. The brokerage presently has a “buy” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 14.57% from the company’s current price.
Several other equities analysts have also weighed in on AVXS. Zacks Investment Research raised shares of AveXis from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Royal Bank of Canada began coverage on shares of AveXis in a research report on Thursday, September 14th. They set a “sector perform” rating and a $92.00 price objective on the stock. Wells Fargo & Co reiterated an “outperform” rating on shares of AveXis in a report on Friday, September 29th. BMO Capital Markets reiterated an “outperform” rating and set a $123.00 price target on shares of AveXis in a report on Saturday, September 30th. Finally, Citigroup increased their price target on AveXis from $100.00 to $116.00 and gave the company a “buy” rating in a report on Monday, October 2nd. Three analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $111.67.
Shares of AveXis (NASDAQ:AVXS) traded down $1.90 on Friday, reaching $104.74. 546,000 shares of the company traded hands, compared to its average volume of 390,233. The company has a market capitalization of $3,350.00 and a price-to-earnings ratio of -18.77. AveXis has a 52-week low of $50.56 and a 52-week high of $116.15.
In other news, VP Andrew F. Knudten sold 2,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $94.48, for a total value of $188,960.00. Following the sale, the vice president now owns 7,000 shares in the company, valued at $661,360. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Sukumar Nagendran sold 1,780 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $101.26, for a total transaction of $180,242.80. Following the completion of the sale, the vice president now owns 1,780 shares in the company, valued at approximately $180,242.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,340 shares of company stock worth $6,840,745. 18.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in AVXS. Janus Henderson Group PLC acquired a new stake in shares of AveXis in the second quarter worth $55,439,000. BlackRock Inc. boosted its stake in AveXis by 34.7% during the second quarter. BlackRock Inc. now owns 2,301,229 shares of the company’s stock worth $189,069,000 after buying an additional 592,843 shares in the last quarter. Alliancebernstein L.P. boosted its stake in AveXis by 4,448.8% during the second quarter. Alliancebernstein L.P. now owns 564,966 shares of the company’s stock worth $46,418,000 after buying an additional 552,546 shares in the last quarter. FMR LLC boosted its stake in AveXis by 13.1% during the second quarter. FMR LLC now owns 4,705,433 shares of the company’s stock worth $386,598,000 after buying an additional 544,475 shares in the last quarter. Finally, State Street Corp boosted its stake in AveXis by 104.2% during the second quarter. State Street Corp now owns 1,000,001 shares of the company’s stock worth $82,163,000 after buying an additional 510,189 shares in 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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