Trade Report: The Chardan Capital Analysts Give AveXis Inc. (AVXS) a $85.00 Price Target

The Chardan Capital Analysts Give AveXis Inc. (AVXS) a $85.00 Price Target

AveXis Inc. (NASDAQ:AVXS) has been given a $85.00 price objective by Chardan Capital in a research report issued on Wednesday. The firm presently has a “buy” rating on the stock. Chardan Capital’s price target points to a potential upside of 42.47% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Jefferies Group boosted their price target on shares of AveXis from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 12th. Wells Fargo & Co. upgraded shares of AveXis from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 17th. BMO Capital Markets reiterated an “outperform” rating and set a $52.00 price target on shares of AveXis in a research report on Monday, October 10th. Zacks Investment Research upgraded shares of AveXis from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Tuesday, October 25th. Finally, Bank of America Corp. began coverage on shares of AveXis in a research report on Friday, October 21st. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $68.00.

AveXis (NASDAQ:AVXS) traded up 0.37% during midday trading on Wednesday, reaching $59.66. 157,649 shares of the company’s stock traded hands. The firm’s market cap is $1.65 billion. AveXis has a 52-week low of $16.11 and a 52-week high of $72.72. The firm’s 50-day moving average is $55.23 and its 200 day moving average is $43.16.

AveXis (NASDAQ:AVXS) last released its quarterly earnings data on Thursday, November 10th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by $0.18. Equities research analysts expect that AveXis will post ($3.48) earnings per share for the current fiscal year.

In related news, insider Paul B. Manning sold 289,855 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $9,999,997.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. purchased a new position in shares of AveXis during the second quarter valued at about $106,000. Nationwide Fund Advisors purchased a new position in shares of AveXis during the second quarter valued at about $120,000. The Manufacturers Life Insurance Company purchased a new position in shares of AveXis during the third quarter valued at about $163,000. Rhumbline Advisers purchased a new position in shares of AveXis during the third quarter valued at about $209,000. Finally, TD Asset Management Inc. purchased a new position in shares of AveXis during the second quarter valued at about $259,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

AveXis Company Profile

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