William Blair Initiates Coverage on AveXis, Inc. (AVXS)
William Blair started coverage on shares of AveXis, Inc. (NASDAQ:AVXS) in a research report released on Wednesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $107.00 price target on the stock. William Blair also issued estimates for AveXis’ Q3 2017 earnings at ($1.35) EPS, Q4 2017 earnings at ($1.39) EPS, FY2017 earnings at ($5.88) EPS, FY2018 earnings at ($6.41) EPS, FY2019 earnings at ($6.80) EPS, FY2020 earnings at ($5.00) EPS and FY2021 earnings at $7.05 EPS.
Several other analysts have also commented on the company. Evercore ISI assumed coverage on AveXis in a research note on Wednesday, August 16th. They issued an outperform rating and a $120.00 price target on the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $108.00 price target (up previously from $92.00) on shares of AveXis in a research note on Friday, August 11th. Chardan Capital reaffirmed a buy rating and issued a $130.00 price target (up previously from $102.50) on shares of AveXis in a research note on Friday, August 11th. BMO Capital Markets reaffirmed a buy rating and issued a $123.00 price target on shares of AveXis in a research note on Friday, August 11th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $118.00 price target on shares of AveXis in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $102.83.
Shares of AveXis (NASDAQ AVXS) opened at 97.25 on Wednesday. The firm’s market cap is $3.10 billion. The firm’s 50-day moving average is $89.48 and its 200-day moving average is $76.66. AveXis has a 12-month low of $32.31 and a 12-month high of $99.45.
AveXis (NASDAQ:AVXS) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($2.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by $1.10. During the same quarter last year, the business earned ($0.68) earnings per share. Equities analysts expect that AveXis will post ($5.85) earnings per share for the current fiscal year.
In other AveXis news, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $81.88, for a total value of $145,746.40. Following the completion of the transaction, the vice president now owns 1,780 shares in the company, valued at approximately $145,746.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 5,340 shares of company stock valued at $434,872. Corporate insiders own 18.60% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of AveXis during the fourth quarter valued at about $1,193,000. Teachers Advisors LLC increased its position in shares of AveXis by 602.2% in the fourth quarter. Teachers Advisors LLC now owns 52,830 shares of the company’s stock valued at $2,522,000 after buying an additional 45,306 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of AveXis during the first quarter valued at about $201,000. Candriam Luxembourg S.C.A. acquired a new position in shares of AveXis during the first quarter valued at about $1,901,000. Finally, Nationwide Fund Advisors increased its position in shares of AveXis by 9.0% in the first quarter. Nationwide Fund Advisors now owns 3,444 shares of the company’s stock valued at $262,000 after buying an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 91.85% of the company’s stock.
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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