Robert W. Baird upgraded shares of Axovant Gene Therapies (NASDAQ:AXGT) from a neutral rating to an outperform rating in a report issued on Monday morning, BenzingaRatingsTable reports. They currently have $13.00 price target on the stock, down from their prior price target of $16.00.
Several other analysts have also recently weighed in on AXGT. ValuEngine upgraded Axovant Gene Therapies from a sell rating to a hold rating in a report on Thursday, August 1st. Leerink Swann started coverage on Axovant Gene Therapies in a research note on Friday, June 21st. They issued an outperform rating and a $5.79 price objective on the stock. Svb Leerink started coverage on Axovant Gene Therapies in a research note on Friday, June 21st. They issued an outperform rating and a $18.00 price objective on the stock. Cowen reaffirmed a hold rating on shares of Axovant Gene Therapies in a research note on Tuesday, July 9th. Finally, JMP Securities lifted their price objective on Axovant Gene Therapies from $8.00 to $28.00 and gave the stock an outperform rating in a research note on Thursday, June 6th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Axovant Gene Therapies presently has an average rating of Buy and an average price target of $26.79.
NASDAQ:AXGT opened at $6.76 on Monday. The company has a market capitalization of $149.67 million, a PE ratio of -0.84 and a beta of 1.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.63 and a current ratio of 2.63. The business’s 50-day moving average price is $6.67. Axovant Gene Therapies has a 1-year low of $3.81 and a 1-year high of $20.80.
In related news, CEO Pavan Cheruvu acquired 7,500 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of $5.21 per share, with a total value of $39,075.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.60% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of AXGT. Marshall Wace LLP bought a new stake in Axovant Gene Therapies during the first quarter worth $272,000. Sphera Funds Management LTD. bought a new stake in Axovant Gene Therapies during the first quarter worth $6,794,000. Primecap Management Co. CA bought a new stake in Axovant Gene Therapies during the first quarter worth $1,400,000. BlackRock Inc. bought a new stake in Axovant Gene Therapies during the second quarter worth $1,482,000. Finally, Jane Street Group LLC grew its holdings in Axovant Gene Therapies by 28.8% during the second quarter. Jane Street Group LLC now owns 46,455 shares of the company’s stock worth $289,000 after buying an additional 10,375 shares in the last quarter.
About Axovant Gene Therapies
Axovant Gene Therapies Ltd., a clinical-stage gene therapy company, focuses on developing a pipeline of product candidates for debilitating neurological and neuromuscular diseases. The company's current pipeline of gene therapy candidates targets GM1 gangliosidosis, GM2 gangliosidosis, Parkinson's disease, oculopharyngeal muscular dystrophy, amyotrophic lateral sclerosis, and frontotemporal dementia.
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