Brokerages Anticipate Axovant Gene Therapies Ltd (NASDAQ:AXGT) to Post -$0.59 Earnings Per Share
Brokerages expect Axovant Gene Therapies Ltd (NASDAQ:AXGT) to report earnings of ($0.59) per share for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Axovant Gene Therapies’ earnings, with the lowest EPS estimate coming in at ($0.74) and the highest estimate coming in at ($0.38). Axovant Gene Therapies posted earnings per share of ($0.45) during the same quarter last year, which would indicate a negative year over year growth rate of 31.1%. The company is scheduled to report its next earnings report on Tuesday, June 9th.
On average, analysts expect that Axovant Gene Therapies will report full-year earnings of ($2.59) per share for the current financial year, with EPS estimates ranging from ($3.18) to ($1.85). For the next fiscal year, analysts expect that the company will report earnings of ($2.30) per share, with EPS estimates ranging from ($3.62) to ($1.48). Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that follow Axovant Gene Therapies.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Axovant Gene Therapies from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a research note on Wednesday, April 8th. Chardan Capital reiterated a “buy” rating and set a $13.50 price objective on shares of Axovant Gene Therapies in a research note on Thursday, April 9th. Finally, Cantor Fitzgerald started coverage on shares of Axovant Gene Therapies in a research note on Thursday, April 16th. They set an “overweight” rating and a $11.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Axovant Gene Therapies presently has an average rating of “Buy” and an average price target of $14.38.
In related news, major shareholder Sciences Ltd. Roivant purchased 5,333,333 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average cost of $3.75 per share, with a total value of $19,999,998.75. Following the completion of the acquisition, the insider now directly owns 18,577,380 shares of the company’s stock, valued at approximately $69,665,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.50% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sphera Funds Management LTD. raised its holdings in Axovant Gene Therapies by 635.4% in the first quarter. Sphera Funds Management LTD. now owns 2,931,018 shares of the company’s stock valued at $7,152,000 after acquiring an additional 2,532,477 shares in the last quarter. DAFNA Capital Management LLC acquired a new stake in Axovant Gene Therapies in the first quarter valued at $2,493,000. Renaissance Technologies LLC raised its holdings in Axovant Gene Therapies by 15.3% in the fourth quarter. Renaissance Technologies LLC now owns 320,423 shares of the company’s stock valued at $1,641,000 after acquiring an additional 42,400 shares in the last quarter. Ikarian Capital LLC acquired a new stake in Axovant Gene Therapies in the fourth quarter valued at $967,000. Finally, Geode Capital Management LLC raised its holdings in Axovant Gene Therapies by 78.2% in the fourth quarter. Geode Capital Management LLC now owns 35,847 shares of the company’s stock valued at $183,000 after acquiring an additional 15,732 shares in the last quarter. 6.94% of the stock is currently owned by hedge funds and other institutional investors.
Axovant Gene Therapies Company Profile
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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