AveXis Inc (NASDAQ:AVXS) – Equities researchers at Jefferies Group reduced their Q1 2018 EPS estimates for shares of AveXis in a research note issued on Wednesday, Zacks Investment Research reports. Jefferies Group analyst B. Amin now forecasts that the company will post earnings of ($1.76) per share for the quarter, down from their previous forecast of ($1.54). Jefferies Group has a “Buy” rating and a $141.00 price objective on the stock. Jefferies Group also issued estimates for AveXis’ Q2 2018 earnings at ($1.79) EPS, Q3 2018 earnings at ($1.81) EPS, Q4 2018 earnings at ($1.83) EPS, FY2018 earnings at ($7.20) EPS, FY2019 earnings at ($1.85) EPS, FY2020 earnings at $3.25 EPS, FY2021 earnings at $5.73 EPS and FY2022 earnings at $7.84 EPS.
AveXis (NASDAQ:AVXS) last released its earnings results on Tuesday, February 27th. The company reported ($2.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.64) by ($0.91).
AVXS has been the subject of several other reports. BidaskClub raised AveXis from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Sanford C. Bernstein reissued an “outperform” rating and set a $144.00 price objective (up from $110.00) on shares of AveXis in a report on Tuesday, February 20th. Chardan Capital reissued a “buy” rating and set a $135.00 price objective on shares of AveXis in a report on Friday, January 5th. UBS Group set a $122.00 price objective on AveXis and gave the company a “buy” rating in a report on Friday, January 5th. Finally, Canaccord Genuity set a $110.00 price objective on AveXis and gave the company a “hold” rating in a report on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. AveXis currently has a consensus rating of “Buy” and a consensus target price of $123.90.
Shares of AveXis (NASDAQ:AVXS) traded up $0.61 during midday trading on Monday, reaching $134.41. The company’s stock had a trading volume of 243,466 shares, compared to its average volume of 553,579. AveXis has a 1-year low of $65.23 and a 1-year high of $138.46. The company has a market capitalization of $4,940.00 and a price-to-earnings ratio of -18.64.
Several hedge funds have recently modified their holdings of AVXS. Parametric Portfolio Associates LLC raised its position in shares of AveXis by 2.9% in the second quarter. Parametric Portfolio Associates LLC now owns 20,943 shares of the company’s stock worth $1,721,000 after buying an additional 598 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of AveXis by 210.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,961 shares of the company’s stock worth $1,312,000 after buying an additional 10,827 shares in the last quarter. California State Teachers Retirement System raised its position in shares of AveXis by 280.6% in the second quarter. California State Teachers Retirement System now owns 43,538 shares of the company’s stock worth $3,577,000 after buying an additional 32,100 shares in the last quarter. Strs Ohio purchased a new stake in AveXis during the third quarter valued at about $116,000. Finally, First Trust Advisors LP purchased a new stake in AveXis during the third quarter valued at about $2,395,000. Institutional investors own 82.43% of the company’s stock.
In other AveXis news, CEO Sean P. Nolan sold 10,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $129.47, for a total transaction of $1,294,700.00. Following the sale, the chief executive officer now owns 10,000 shares in the company, valued at $1,294,700. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Andrew F. Knudten sold 2,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $118.13, for a total value of $236,260.00. Following the completion of the sale, the vice president now owns 7,000 shares in the company, valued at approximately $826,910. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,560 shares of company stock worth $7,793,030. Company insiders own 18.60% of the company’s stock.
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.
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