AveXis (AVXS) PT Set at $120.00 by Morgan Stanley

Morgan Stanley set a $120.00 price target on AveXis (NASDAQ:AVXS) in a research report report published on Friday. The firm currently has a buy rating on the stock.

AVXS has been the topic of several other reports. Zacks Investment Research cut shares of AveXis from a buy rating to a hold rating in a report on Monday, October 30th. Bank of America dropped their target price on shares of AveXis from $115.00 to $112.00 and set a buy rating on the stock in a report on Friday, November 10th. Canaccord Genuity initiated coverage on shares of AveXis in a report on Thursday, October 26th. They set a hold rating and a $110.00 target price on the stock. Wells Fargo & Co reiterated an outperform rating on shares of AveXis in a report on Friday, September 29th. Finally, BMO Capital Markets reiterated an outperform rating and set a $130.00 target price (up from $123.00) on shares of AveXis in a report on Thursday, October 12th. Three 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 company currently has a consensus rating of Buy and an average target price of $111.94.

Shares of AveXis (NASDAQ AVXS) traded up $4.24 during trading on Friday, reaching $106.32. 569,300 shares of the company’s stock traded hands, compared to its average volume of 515,580. AveXis has a one year low of $50.56 and a one year high of $116.15. The company has a market cap of $3,400.00 and a PE ratio of -19.05.

AveXis (NASDAQ:AVXS) last issued its earnings results on Thursday, November 9th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.48) by ($0.04). During the same period in the prior year, the company posted ($0.87) EPS. sell-side analysts predict that AveXis will post -6.23 EPS for the current year.

In related news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $101.26, for a total value of $180,242.80. Following the completion of the transaction, the vice president now directly owns 1,780 shares of the company’s stock, valued at approximately $180,242.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian K. Kaspar sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $101.23, for a total transaction of $1,518,450.00. Following the completion of the transaction, the insider now directly owns 1,841,019 shares of the company’s stock, valued at $186,366,353.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,340 shares of company stock valued at $5,318,845. Insiders own 18.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in AVXS. Janus Henderson Group PLC purchased a new position in AveXis during the 2nd quarter worth approximately $55,439,000. BlackRock Inc. raised its position in AveXis by 34.7% during the 2nd quarter. BlackRock Inc. now owns 2,301,229 shares of the company’s stock worth $189,069,000 after buying an additional 592,843 shares during the last quarter. Alliancebernstein L.P. raised its position in AveXis by 4,448.8% during the 2nd quarter. Alliancebernstein L.P. now owns 564,966 shares of the company’s stock worth $46,418,000 after buying an additional 552,546 shares during the last quarter. FMR LLC raised its position in AveXis by 13.1% during the 2nd quarter. FMR LLC now owns 4,705,433 shares of the company’s stock worth $386,598,000 after buying an additional 544,475 shares during the last quarter. Finally, State Street Corp raised its position in AveXis by 104.2% during the 2nd quarter. State Street Corp now owns 1,000,001 shares of the company’s stock worth $82,163,000 after buying an additional 510,189 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

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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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