AveXis (AVXS) Receives New Coverage from Analysts at Credit Suisse Group
Credit Suisse Group started coverage on shares of AveXis (NASDAQ:AVXS) in a report published on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $134.00 target price on the stock.
A number of other equities analysts have also commented on AVXS. Wells Fargo & Co restated an outperform rating on shares of AveXis in a research report on Friday, September 29th. BMO Capital Markets restated an outperform rating and issued a $123.00 price target on shares of AveXis in a research report on Saturday, September 30th. Citigroup boosted their price target on shares of AveXis from $100.00 to $116.00 and gave the company a buy rating in a research report on Monday, October 2nd. UBS Group restated a buy rating and issued a $122.00 price target (up from $95.00) on shares of AveXis in a research report on Tuesday, October 3rd. Finally, Goldman Sachs Group reiterated a buy rating and set a $130.00 target price on shares of AveXis in a research report on Friday, October 6th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. AveXis currently has a consensus rating of Buy and an average price target of $113.89.
AveXis (AVXS) traded down $1.92 during trading hours on Wednesday, reaching $108.25. 777,156 shares of the company’s stock were exchanged, compared to its average volume of 547,921. The firm has a market capitalization of $3,885.53, a price-to-earnings ratio of -19.40 and a beta of 2.46. AveXis has a 52-week low of $50.56 and a 52-week high of $119.00.
In other news, VP Andrew F. Knudten sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $94.48, for a total transaction of $188,960.00. Following the transaction, the vice president now directly owns 7,000 shares in the company, valued at $661,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sukumar Nagendran sold 1,780 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $101.26, for a total transaction of $180,242.80. Following the transaction, the vice president now owns 1,780 shares in the company, valued at $180,242.80. The disclosure for this sale can be found here. Insiders have sold 57,340 shares of company stock worth $5,851,445 over the last quarter. 18.60% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio bought a new stake in shares of AveXis during the third quarter worth approximately $116,000. Ameritas Investment Partners Inc. raised its stake in shares of AveXis by 331.0% during the second quarter. Ameritas Investment Partners Inc. now owns 2,112 shares of the company’s stock worth $174,000 after buying an additional 1,622 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of AveXis by 688.6% during the third quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock worth $175,000 after buying an additional 1,577 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of AveXis during the third quarter worth approximately $200,000. Finally, Deschutes Portfolio Strategy LLC bought a new stake in shares of AveXis during the third quarter worth approximately $203,000. 92.88% of the stock is 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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