BMO Capital Markets Reiterates “Buy” Rating for AveXis (AVXS)

BMO Capital Markets reiterated their buy rating on shares of AveXis (NASDAQ:AVXS) in a research report released on Thursday morning. They currently have a $150.00 price objective on the stock.

Several other brokerages also recently commented on AVXS. Royal Bank of Canada restated a hold rating and set a $92.00 price objective on shares of AveXis in a research report on Tuesday, January 9th. Zacks Investment Research upgraded shares of AveXis from a sell rating to a hold rating in a research report on Tuesday, January 9th. Credit Suisse Group assumed coverage on shares of AveXis in a research report on Wednesday. They set an outperform rating and a $134.00 price objective for the company. Citigroup set a $132.00 price objective on shares of AveXis and gave the company a buy rating in a research report on Friday, January 5th. Finally, UBS Group set a $122.00 price objective on shares of AveXis and gave the company a buy rating in a research report on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. AveXis has an average rating of Buy and a consensus target price of $113.89.

Shares of AveXis (NASDAQ:AVXS) traded down $1.92 on Thursday, reaching $108.25. 777,156 shares of the company’s stock traded hands, compared to its average volume of 547,921. AveXis has a 1-year low of $50.56 and a 1-year high of $119.00. The firm has a market capitalization of $3,885.53, a P/E ratio of -19.40 and a beta of 2.46.

AveXis (NASDAQ:AVXS) last announced its quarterly earnings data on Thursday, November 9th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.04). During the same quarter last year, the business posted ($0.87) EPS. research analysts predict that AveXis will post -6.23 earnings per share for the current year.

In other AveXis news, VP James J. Litalien sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $106.52, for a total transaction of $532,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian K. Kaspar sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $101.23, for a total transaction of $1,518,450.00. Following the sale, the insider now directly owns 1,841,019 shares in the company, valued at approximately $186,366,353.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,340 shares of company stock worth $5,851,445. Insiders own 18.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AVXS. Schwab Charles Investment Management Inc. grew its stake in shares of AveXis by 57.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 86,520 shares of the company’s stock worth $7,109,000 after buying an additional 31,655 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of AveXis by 79.9% during the second quarter. Bank of New York Mellon Corp now owns 113,225 shares of the company’s stock worth $9,302,000 after buying an additional 50,303 shares during the last quarter. Legal & General Group Plc grew its stake in shares of AveXis by 303.9% in the second quarter. Legal & General Group Plc now owns 5,828 shares of the company’s stock worth $478,000 after purchasing an additional 4,385 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of AveXis by 1,001.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,732 shares of the company’s stock worth $224,000 after purchasing an additional 2,484 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of AveXis in the second quarter worth $307,000. 92.88% of the stock is currently 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.

Analyst Recommendations for AveXis (NASDAQ:AVXS)

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