Trading Report: The AveXis’ (AVXS) “Outperform” Rating Reaffirmed at BMO Capital Markets

The AveXis’ (AVXS) “Outperform” Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of AveXis Inc. (NASDAQ:AVXS) in a report published on Monday. They currently have a $52.00 price target on the stock.

Several other research analysts have also weighed in on AVXS. Zacks Investment Research upgraded shares of AveXis from a sell rating to a hold rating in a report on Wednesday, June 15th. Jefferies Group lowered shares of AveXis from a buy rating to a hold rating and increased their price objective for the stock from $39.00 to $42.00 in a report on Wednesday, June 22nd. They noted that the move was a valuation call. Wells Fargo & Co. started coverage on shares of AveXis in a report on Friday, July 15th. They set a market perform rating on the stock. Finally, Chardan Capital reiterated a buy rating and set a $60.00 price objective on shares of AveXis in a report on Friday, August 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $52.80.

AveXis (NASDAQ:AVXS) opened at 47.04 on Monday. The firm’s market cap is $1.08 billion. AveXis has a 12-month low of $16.11 and a 12-month high of $50.19. The firm’s 50-day moving average is $40.53 and its 200 day moving average is $36.31.

AveXis (NASDAQ:AVXS) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.68) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.77) by $0.09. Equities research analysts predict that AveXis will post ($3.30) EPS for the current year.

In other AveXis news, insider Paul B. Manning sold 289,855 shares of AveXis stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $9,999,997.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Deerfield Management Co. acquired a new position in shares of AveXis during the first quarter worth $60,928,000. BlackRock Group LTD purchased a new position in AveXis during the first quarter worth approximately $2,223,000. VHCP Management II LLC purchased a new position in AveXis during the first quarter worth approximately $24,501,000. Pictet Asset Management Ltd. purchased a new position in AveXis during the first quarter worth approximately $536,000. Finally, BlackRock Institutional Trust Company N.A. purchased a new position in AveXis during the first quarter worth approximately $1,024,000. 54.46% of the stock is currently owned by hedge funds and other institutional investors.

AveXis Company Profile

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