AveXis (AVXS) Given a $132.00 Price Target by Citigroup Analysts

AveXis (NASDAQ:AVXS) has been assigned a $132.00 price objective by research analysts at Citigroup in a report released on Friday. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 29.31% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Canaccord Genuity set a $110.00 target price on shares of AveXis and gave the company a “hold” rating in a report on Wednesday, December 20th. BidaskClub upgraded shares of AveXis from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. ValuEngine cut shares of AveXis from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Bank of America lowered their target price on shares of AveXis from $115.00 to $112.00 and set a “buy” rating for the company in a report on Friday, November 10th. Finally, Royal Bank of Canada upped their target price on shares of AveXis from $92.00 to $97.00 and gave the company a “sector perform” rating in a report on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $111.94.

AveXis (NASDAQ AVXS) traded down $2.66 during midday trading on Friday, reaching $102.08. 837,632 shares of the company’s stock traded hands, compared to its average volume of 367,840. AveXis has a 12 month low of $50.56 and a 12 month high of $116.15.

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 in the prior year, the business posted ($0.87) EPS. equities analysts forecast that AveXis will post -6.23 earnings per share for the current fiscal year.

In related news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $101.26, for a total transaction of $180,242.80. Following the completion of the sale, the vice president now owns 1,780 shares in the company, valued at approximately $180,242.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Andrew F. Knudten sold 2,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $94.48, for a total transaction of $188,960.00. Following the sale, the vice president now owns 7,000 shares of the company’s stock, valued at approximately $661,360. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,340 shares of company stock valued at $6,840,745. 18.60% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Strs Ohio acquired a new stake in AveXis during the 3rd quarter worth $116,000. Ameritas Investment Partners Inc. boosted its stake in AveXis by 331.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,112 shares of the company’s stock worth $174,000 after purchasing an additional 1,622 shares during the period. Cubist Systematic Strategies LLC boosted its stake in AveXis by 688.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock worth $175,000 after purchasing an additional 1,577 shares during the period. Teacher Retirement System of Texas acquired a new stake in AveXis during the 3rd quarter worth $200,000. Finally, Deschutes Portfolio Strategy LLC acquired a new stake in AveXis during the 3rd quarter worth $203,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

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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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