Other analysts have also recently issued reports about the company. Sanford C. Bernstein began coverage on AveXis in a research note on Thursday, July 27th. They issued an outperform rating and a $108.00 price objective on the stock. Evercore ISI began coverage on AveXis in a research note on Wednesday, August 16th. They issued an outperform rating and a $120.00 price objective on the stock. Wells Fargo & Company reiterated an outperform rating and issued a $134.00 price objective (up from $89.00) on shares of AveXis in a research note on Tuesday, September 5th. Zacks Investment Research upgraded AveXis from a sell rating to a hold rating in a research note on Thursday, July 13th. Finally, BMO Capital Markets reiterated a buy rating and issued a $123.00 price objective on shares of AveXis in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $107.78.
AveXis (NASDAQ AVXS) traded up $0.21 during trading hours on Thursday, reaching $104.53. The company’s stock had a trading volume of 342,741 shares, compared to its average volume of 323,659.
AveXis (NASDAQ:AVXS) last released its quarterly earnings results on Thursday, August 10th. The company reported ($2.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.10). During the same period in the prior year, the business posted ($0.68) earnings per share. research analysts forecast that AveXis will post -5.55 EPS for the current fiscal year.
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In related news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $93.25, for a total value of $165,985.00. Following the transaction, the vice president now owns 1,780 shares of the company’s stock, valued at $165,985. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian K. Kaspar sold 15,000 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $101.46, for a total value of $1,521,900.00. The disclosure for this sale can be found here. Insiders sold 35,340 shares of company stock worth $3,559,683 in the last three months. 18.60% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Strs Ohio purchased a new position in AveXis in the third quarter valued at $116,000. Botty Investors LLC purchased a new position in AveXis in the second quarter valued at $123,000. Deschutes Portfolio Strategy LLC purchased a new position in AveXis in the third quarter valued at $203,000. Ameritas Investment Partners Inc. increased its holdings in AveXis by 331.0% in the second quarter. Ameritas Investment Partners Inc. now owns 2,112 shares of the company’s stock valued at $174,000 after buying an additional 1,622 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in AveXis in the third quarter valued at $224,000. 94.71% of the stock is currently owned by hedge funds and other 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.
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