AveXis, Inc. (NASDAQ:AVXS) Price Target Cut to $112.00 by Analysts at Bank of America Corporation

AveXis, Inc. (NASDAQ:AVXS) had its price objective reduced by Bank of America Corporation from $115.00 to $112.00 in a research note issued to investors on Friday, November 10th. Bank of America Corporation currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of AveXis from $92.00 to $97.00 and gave the company a sector perform rating in a research note on Friday, November 10th. Chardan Capital restated a buy rating on shares of AveXis in a research note on Thursday, November 2nd. Zacks Investment Research lowered shares of AveXis from a buy rating to a hold rating in a research report on Monday, October 30th. Canaccord Genuity began coverage on shares of AveXis in a research report on Thursday, October 26th. They set a hold rating and a $110.00 target price on the stock. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $130.00 target price (up previously from $123.00) on shares of AveXis in a research report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $110.67.

AveXis (NASDAQ:AVXS) traded up $0.11 during trading on Friday, hitting $95.99. 203,284 shares of the stock traded hands, compared to its average volume of 433,246. AveXis has a 1-year low of $44.68 and a 1-year high of $108.27.

AveXis (NASDAQ:AVXS) last posted its quarterly earnings results on Thursday, November 9th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.04). During the same period last year, the business posted ($0.87) EPS. research analysts predict that AveXis will post -6.23 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/11/22/avexis-inc-avxs-given-new-112-00-price-target-at-bank-of-america-corporation.html.

In other AveXis news, insider Brian K. Kaspar sold 15,000 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $101.46, for a total transaction of $1,521,900.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Sukumar Nagendran sold 1,780 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $93.25, for a total transaction of $165,985.00. Following the transaction, the vice president now owns 1,780 shares in the company, valued at $165,985. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,340 shares of company stock worth $3,559,683. 18.60% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System bought a new stake in shares of AveXis in the 3rd quarter valued at about $570,000. Cubist Systematic Strategies LLC increased its stake in shares of AveXis by 688.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock valued at $175,000 after acquiring an additional 1,577 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of AveXis in the 3rd quarter valued at about $967,000. Perceptive Advisors LLC increased its stake in shares of AveXis by 147.5% in the 3rd quarter. Perceptive Advisors LLC now owns 671,181 shares of the company’s stock valued at $64,923,000 after acquiring an additional 400,000 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of AveXis by 52.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,027,221 shares of the company’s stock valued at $99,363,000 after acquiring an additional 352,456 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

AveXis Company Profile

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.

Analyst Recommendations for AveXis (NASDAQ:AVXS)

Receive News & Ratings for AveXis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AveXis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply