Axovant Gene Therapies Ltd (NASDAQ:AXGT) Receives Consensus Rating of “Buy” from Analysts
Axovant Gene Therapies Ltd (NASDAQ:AXGT) has been assigned a consensus rating of “Buy” from the eleven analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $29.83.
A number of research analysts have recently commented on AXGT shares. Leerink Swann started coverage on shares of Axovant Gene Therapies in a report on Friday, June 21st. They issued an “outperform” rating and a $5.79 price target on the stock. Robert W. Baird upgraded Axovant Gene Therapies from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $16.00 to $13.00 in a report on Monday, August 12th. ValuEngine upgraded Axovant Gene Therapies from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research lowered Axovant Gene Therapies from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Cowen reiterated a “hold” rating on shares of Axovant Gene Therapies in a report on Tuesday, July 9th.
Shares of AXGT traded up $0.06 during midday trading on Wednesday, hitting $6.68. The stock had a trading volume of 83,902 shares, compared to its average volume of 420,505. Axovant Gene Therapies has a 1 year low of $3.81 and a 1 year high of $20.80. The stock has a market capitalization of $151.49 million, a price-to-earnings ratio of -0.83 and a beta of 1.29. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $6.76.
In related news, CEO Pavan Cheruvu acquired 7,500 shares of Axovant Gene Therapies stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $5.21 per share, for a total transaction of $39,075.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in Axovant Gene Therapies by 955.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,221 shares of the company’s stock worth $27,000 after purchasing an additional 3,821 shares during the period. Jane Street Group LLC increased its stake in Axovant Gene Therapies by 28.8% during the second quarter. Jane Street Group LLC now owns 46,455 shares of the company’s stock worth $289,000 after purchasing an additional 10,375 shares during the period. Marshall Wace LLP purchased a new stake in Axovant Gene Therapies during the first quarter worth about $272,000. BlackRock Inc. purchased a new stake in Axovant Gene Therapies during the second quarter worth about $1,482,000. Finally, Primecap Management Co. CA purchased a new stake in Axovant Gene Therapies during the first quarter worth about $1,400,000.
About Axovant Gene Therapies
Axovant Gene Therapies Ltd., a clinical-stage gene therapy company, focuses on developing a pipeline of product candidates for debilitating neurological and neuromuscular diseases. The company's current pipeline of gene therapy candidates targets GM1 gangliosidosis, GM2 gangliosidosis, Parkinson's disease, oculopharyngeal muscular dystrophy, amyotrophic lateral sclerosis, and frontotemporal dementia.
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