AveXis (NASDAQ:AVXS) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.
A number of other equities research analysts also recently issued reports on the stock. Sanford C. Bernstein reiterated an “outperform” rating and set a $144.00 price target (up from $110.00) on shares of AveXis in a research report on Tuesday, February 20th. Mizuho began coverage on shares of AveXis in a research report on Monday, February 12th. They set a “buy” rating and a $147.00 price target for the company. Barclays lifted their price target on shares of AveXis from $124.00 to $152.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. William Blair reiterated a “buy” rating on shares of AveXis in a research report on Tuesday, January 30th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $150.00 price target on shares of AveXis in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $122.30.
Shares of AveXis (NASDAQ AVXS) opened at $123.73 on Tuesday. AveXis has a 12-month low of $57.53 and a 12-month high of $128.00. The stock has a market cap of $4,440.00 and a P/E ratio of -22.17.
In related news, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $94.73, for a total transaction of $1,420,950.00. Following the completion of the transaction, the insider now directly owns 1,826,502 shares in the company, valued at approximately $173,024,534.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew F. Knudten sold 2,000 shares of AveXis stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $94.48, for a total value of $188,960.00. Following the transaction, 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. Insiders have sold a total of 57,560 shares of company stock valued at $6,160,062 over the last 90 days. Insiders own 18.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in AVXS. Wells Fargo & Company MN grew its stake in AveXis by 155.6% in the 2nd quarter. Wells Fargo & Company MN now owns 16,401 shares of the company’s stock worth $1,347,000 after acquiring an additional 9,985 shares during the period. Parametric Portfolio Associates LLC grew its stake in AveXis by 2.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 20,943 shares of the company’s stock worth $1,721,000 after acquiring an additional 598 shares during the period. Voya Investment Management LLC purchased a new stake in AveXis in the 2nd quarter worth approximately $785,000. The Manufacturers Life Insurance Company grew its stake in AveXis by 210.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,961 shares of the company’s stock worth $1,312,000 after acquiring an additional 10,827 shares during the period. Finally, California State Teachers Retirement System grew its stake in AveXis by 280.6% in the 2nd quarter. California State Teachers Retirement System now owns 43,538 shares of the company’s stock worth $3,577,000 after acquiring an additional 32,100 shares during the period. 82.66% of the stock is owned by hedge funds and other institutional investors.
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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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