Chardan Capital reaffirmed their buy rating on shares of AveXis (NASDAQ:AVXS) in a research report sent to investors on Friday morning. Chardan Capital currently has a $135.00 price objective on the stock.
“We would encourage buying on any AVXS weakness today, on the potential that the market may have understandably misunderstood what could be an atypical but stepped up process in terms of filing timelines for AVXS-101 in SMA type 1. Our take: Our base case (see our 15 June 2017 note) of a filing after pivotal STR1VE (NCT03306277) phase III data seems to have been improved upon. There are reasons to believe AveXis could file AVXS-101 by 3Q18, with a blue skies” scenario involving AVXS-101 approval by end-2018 or early-2019. We note AveXis’ appropriately non-promotional commentary when executing its duties in communicating status of important regulatory matters to the market.”,” Chardan Capital’s analyst commented.
A number of other research analysts have also recently weighed in on AVXS. Zacks Investment Research raised AveXis from a sell rating to a hold rating in a research report on Thursday, September 7th. Royal Bank of Canada started coverage on AveXis in a research report on Thursday, September 14th. They set a sector perform rating and a $92.00 price objective on the stock. Wells Fargo & Co reaffirmed an outperform rating on shares of AveXis in a research report on Friday, September 29th. BMO Capital Markets reaffirmed an outperform rating and set a $123.00 price objective on shares of AveXis in a research report on Saturday, September 30th. Finally, Citigroup lifted their price objective on AveXis from $100.00 to $116.00 and gave the company a buy rating in a research report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. AveXis has an average rating of Buy and a consensus price target of $111.94.
AveXis (NASDAQ:AVXS) last posted its quarterly earnings data on Thursday, November 9th. The company reported ($1.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.48) by ($0.04). During the same quarter in the previous year, the firm earned ($0.87) earnings per share. equities analysts predict that AveXis will post -6.23 earnings per share for the current year.
In related news, insider Brian K. Kaspar sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $109.75, for a total value of $1,646,250.00. Following the transaction, the insider now directly owns 1,808,386 shares of the company’s stock, valued at approximately $198,470,363.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Sukumar Nagendran sold 1,780 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $109.72, for a total value of $195,301.60. Following the completion of the transaction, the vice president now directly owns 1,780 shares in the company, valued at $195,301.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,340 shares of company stock worth $5,318,845. 18.60% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Amalgamated Bank increased its stake in AveXis by 19.6% in the 3rd quarter. Amalgamated Bank now owns 3,187 shares of the company’s stock worth $308,000 after acquiring an additional 523 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in AveXis by 2.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 20,943 shares of the company’s stock worth $1,721,000 after acquiring an additional 598 shares during the last quarter. ProShare Advisors LLC increased its stake in AveXis by 6.4% in the 2nd quarter. ProShare Advisors LLC now owns 16,427 shares of the company’s stock worth $1,350,000 after acquiring an additional 985 shares during the last quarter. SG Americas Securities LLC increased its stake in AveXis by 28.2% in the 2nd quarter. SG Americas Securities LLC now owns 5,111 shares of the company’s stock worth $420,000 after acquiring an additional 1,124 shares during the last quarter. Finally, Strs Ohio bought a new stake in AveXis in the 3rd quarter worth approximately $116,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.
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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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