Axovant Sciences Ltd (AXON) Rating Increased to Strong-Buy at Zacks Investment Research

Axovant Sciences Ltd (NYSE:AXON) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $8.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 18.69% from the stock’s previous close.

According to Zacks, “Axovant Sciences Ltd. is a biopharmaceutical company which focuses on the acquisition, development and commercialization of therapeutics for the treatment of neurodegenerative disorders. Its product candidate includes RVT-101 which is in different clinical trial for the treatment of Alzheimer’s disease and other forms of dementia. Axovant Sciences Ltd. is based in Hamilton, Bermuda. “

Other analysts have also recently issued reports about the stock. Cowen and Company reissued an “outperform” rating and set a $30.00 target price on shares of Axovant Sciences in a report on Wednesday, June 21st. Oppenheimer Holdings, Inc. cut shares of Axovant Sciences from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 26th. BidaskClub raised shares of Axovant Sciences from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Evercore ISI reissued an “outperform” rating and set a $9.00 target price (down from $30.00) on shares of Axovant Sciences in a report on Tuesday, September 26th. Finally, UBS AG cut shares of Axovant Sciences from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $14.13.

Axovant Sciences (NYSE:AXON) opened at 6.74 on Monday. The firm’s 50-day moving average is $14.97 and its 200 day moving average is $14.97. The stock’s market capitalization is $724.72 million. Axovant Sciences has a 12 month low of $6.13 and a 12 month high of $27.98.

Axovant Sciences (NYSE:AXON) last issued its earnings results on Monday, August 7th. The biotechnology company reported ($0.65) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.12). On average, equities analysts anticipate that Axovant Sciences will post ($2.02) earnings per share for the current year.

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Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Axovant Sciences by 38.9% during the first quarter. Bank of America Corp DE now owns 7,396 shares of the biotechnology company’s stock worth $111,000 after acquiring an additional 2,072 shares during the last quarter. Legal & General Group Plc grew its position in shares of Axovant Sciences by 20.2% during the second quarter. Legal & General Group Plc now owns 6,955 shares of the biotechnology company’s stock worth $162,000 after acquiring an additional 1,168 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Axovant Sciences during the first quarter worth about $219,000. American International Group Inc. grew its position in shares of Axovant Sciences by 7.1% during the first quarter. American International Group Inc. now owns 15,052 shares of the biotechnology company’s stock worth $225,000 after acquiring an additional 998 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Axovant Sciences by 38.5% during the second quarter. Russell Investments Group Ltd. now owns 10,041 shares of the biotechnology company’s stock worth $233,000 after acquiring an additional 2,789 shares during the last quarter.

Axovant Sciences Company Profile

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.

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