AveXis (AVXS) Lowered to “Hold” at Jefferies Group

AveXis (NASDAQ:AVXS) was downgraded by analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, The Fly reports.

Several other research analysts have also recently issued reports on the stock. Chardan Capital cut shares of AveXis from a “buy” rating to a “neutral” rating in a report on Friday, April 13th. Barclays cut shares of AveXis from an “overweight” rating to an “equal weight” rating and set a $152.00 target price for the company. in a report on Thursday, April 12th. UBS cut shares of AveXis from a “buy” rating to a “neutral” rating in a report on Thursday, April 12th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $139.00 target price on shares of AveXis in a report on Wednesday, April 11th. Finally, Citigroup lowered shares of AveXis from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 10th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $123.90.

How to Become a New Pot Stock Millionaire

Shares of AveXis stock opened at $212.06 on Wednesday. The stock has a market capitalization of $7,759.39, a price-to-earnings ratio of -29.13 and a beta of 2.06. AveXis has a 52-week low of $65.54 and a 52-week high of $213.70.

AveXis (NASDAQ:AVXS) last issued 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). sell-side analysts predict that AveXis will post -7.63 EPS for the current fiscal year.

In related news, VP Andrew F. Knudten sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $118.13, for a total transaction of $236,260.00. Following the completion of the sale, the vice president now directly owns 7,000 shares in the company, valued at $826,910. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian K. Kaspar sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $118.07, for a total transaction of $1,771,050.00. Following the sale, the insider now owns 1,792,147 shares of the company’s stock, valued at $211,598,796.29. The disclosure for this sale can be found here. Insiders have sold 63,780 shares of company stock valued at $7,808,578 over the last 90 days. 18.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in AveXis by 57.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,241 shares of the company’s stock valued at $137,000 after buying an additional 453 shares during the period. QS Investors LLC bought a new stake in AveXis during the fourth quarter valued at approximately $156,000. Cubist Systematic Strategies LLC grew its position in AveXis by 688.6% during the third quarter. Cubist Systematic Strategies LLC now owns 1,806 shares of the company’s stock valued at $175,000 after buying an additional 1,577 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in AveXis during the fourth quarter valued at approximately $251,000. Finally, Vident Investment Advisory LLC bought a new stake in AveXis during the third quarter valued at approximately $245,000. Institutional investors own 82.23% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was first reported by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are reading this article on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.thelincolnianonline.com/2018/04/18/avexis-avxs-lowered-to-hold-at-jefferies-group.html.

About AveXis

AveXis, Inc, a clinical-stage gene therapy company, engages in developing and commercializing treatments for patients suffering from rare and life-threatening neurological genetic diseases. Its initial product candidate is AVXS-101, a gene therapy product candidate that has completed Phase I clinical trial for the treatment of spinal muscular atrophy Type 1.

The Fly

Analyst Recommendations for AveXis (NASDAQ:AVXS)

Receive News & Ratings for AveXis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AveXis and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply