AveXis Inc. (NASDAQ:AVXS) – Equities researchers at Jefferies Group raised their FY2020 earnings per share estimates for AveXis in a note issued to investors on Wednesday. Jefferies Group analyst B. Amin now expects that the brokerage will earn $1.46 per share for the year, up from their previous forecast of ($0.32). Jefferies Group has a “Buy” rating and a $58.00 price objective on the stock.
AveXis (NASDAQ:AVXS) last issued its earnings results on Thursday, August 11th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.77) by $0.09.
Several other research analysts have also commented on AVXS. Zacks Investment Research upgraded shares of AveXis from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. Wells Fargo & Co. started coverage on shares of AveXis in a research note on Friday, July 15th. They set a “market perform” rating for the company. Chardan Capital reiterated a “buy” rating and set a $60.00 price objective on shares of AveXis in a research note on Friday, August 12th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $52.00 price objective on shares of AveXis in a research note on Monday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. AveXis has a consensus rating of “Buy” and an average target price of $52.80.
AveXis (NASDAQ:AVXS) traded down 0.02% on Friday, reaching $47.03. 331,635 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $40.53 and a 200 day moving average price of $36.31. AveXis has a 12-month low of $16.11 and a 12-month high of $50.19. The stock’s market cap is $1.08 billion.
In other news, insider Paul B. Manning sold 289,855 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $34.50, for a total value of $9,999,997.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Hedge funds have recently added to or reduced their stakes in the stock. Deerfield Management Co. acquired a new stake in AveXis during the first quarter valued at approximately $60,928,000. VHCP Management II LLC acquired a new stake in AveXis during the first quarter valued at approximately $24,501,000. FMR LLC increased its stake in AveXis by 212.8% in the second quarter. FMR LLC now owns 688,353 shares of the company’s stock valued at $26,171,000 after buying an additional 468,279 shares during the period. Franklin Resources Inc. acquired a new stake in AveXis during the second quarter valued at approximately $16,514,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in AveXis during the first quarter valued at approximately $10,896,000. 54.46% of the stock is currently owned by institutional investors and hedge funds.