Axovant Sciences (AXON) Downgraded to “Strong Sell” at ValuEngine

ValuEngine cut shares of Axovant Sciences (NASDAQ:AXON) from a sell rating to a strong sell rating in a research report sent to investors on Monday.

A number of other brokerages also recently commented on AXON. Jefferies Group downgraded shares of Axovant Sciences from a buy rating to a hold rating and set a $6.00 target price on the stock. in a research note on Thursday, December 21st. Chardan Capital raised shares of Axovant Sciences from a sell rating to a neutral rating and set a $2.50 target price on the stock in a research note on Wednesday, January 10th. Cowen downgraded shares of Axovant Sciences from an outperform rating to a market perform rating in a research note on Friday, January 12th. Zacks Investment Research raised shares of Axovant Sciences from a hold rating to a buy rating and set a $2.25 target price on the stock in a research note on Wednesday, January 31st. Finally, Oppenheimer reaffirmed a hold rating on shares of Axovant Sciences in a research note on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $13.61.

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AXON stock traded up $0.03 during trading on Monday, reaching $1.24. 63,531 shares of the stock were exchanged, compared to its average volume of 1,431,600. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.58 and a quick ratio of 4.58. Axovant Sciences has a 1 year low of $1.15 and a 1 year high of $27.98. The company has a market capitalization of $135.27, a PE ratio of -0.66 and a beta of -0.40.

In related news, Director George Bickerstaff purchased 25,000 shares of Axovant Sciences stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of $1.50 per share, with a total value of $37,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 72.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Axovant Sciences by 99.8% during the 4th quarter. BlackRock Inc. now owns 2,912,219 shares of the biotechnology company’s stock worth $15,347,000 after buying an additional 1,454,454 shares during the period. OxFORD Asset Management LLP increased its stake in Axovant Sciences by 842.1% during the 3rd quarter. OxFORD Asset Management LLP now owns 869,834 shares of the biotechnology company’s stock worth $5,838,000 after buying an additional 777,505 shares during the period. Eagle Asset Management Inc. purchased a new stake in Axovant Sciences during the 3rd quarter worth approximately $4,471,000. Deutsche Bank AG increased its stake in Axovant Sciences by 7.0% during the 4th quarter. Deutsche Bank AG now owns 548,728 shares of the biotechnology company’s stock worth $2,891,000 after buying an additional 35,878 shares during the period. Finally, Millennium Management LLC increased its stake in Axovant Sciences by 445.0% during the 4th quarter. Millennium Management LLC now owns 482,964 shares of the biotechnology company’s stock worth $2,545,000 after buying an additional 622,964 shares during the period. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Axovant Sciences (NASDAQ:AXON)

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