Axovant Sciences (AXGT) Rating Reiterated by HC Wainwright

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HC Wainwright reaffirmed their buy rating on shares of Axovant Sciences (NASDAQ:AXGT) in a research report report published on Tuesday morning. The brokerage currently has a $7.00 price objective on the stock.

“Our price target of $7/share is based on an equally-weighted composite of: (a) $5.56/share, as a 35x multiple of taxed and diluted $1.70 discounted back to FY19 at 20% (in line with the expected PE multiple and discount rate of an early development-stage biotechnology company); and (b) an NPV of $9.23/ share (discounted cash flow analysis using a 15% discount rate and 2.0% growth rate, in line with the expected discount and growth parameters of an early development-stage biotechnology company).”,” the firm’s analyst commented.

AXGT has been the subject of several other research reports. Guggenheim assumed coverage on Axovant Sciences in a research note on Friday, February 15th. They issued a buy rating and a $7.00 price target for the company. Chardan Capital raised Axovant Sciences from a neutral rating to a buy rating and set a $4.00 price target for the company in a research note on Monday. Finally, JMP Securities reissued an outperform rating and issued a $6.00 price target (down previously from $8.00) on shares of Axovant Sciences in a research note on Monday.

Shares of AXGT opened at $1.42 on Tuesday. Axovant Sciences has a 12-month low of $0.93 and a 12-month high of $6.59. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $275.34 million, a price-to-earnings ratio of -0.69 and a beta of 1.33.

Axovant Sciences (NASDAQ:AXGT) last issued its earnings results on Thursday, February 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.27). As a group, research analysts forecast that Axovant Sciences will post -1.23 earnings per share for the current fiscal year.

Axovant Sciences Company Profile

Axovant Sciences Ltd. is a clinical-stage biopharmaceutical company, which engages in the acquisition, development, and commercialization of novel therapeutics in the fields of neurology and psychiatry. Its therapeutic focus are Parkinson’s Disease and Lewy Body Dementia. It operates through the following geographical sgements: United States, Switzerland, Bermuda, and Other.

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