Bank of America Corporation Lowers AveXis, Inc. (AVXS) Price Target to $112.00

AveXis, Inc. (NASDAQ:AVXS) had its target price reduced by Bank of America Corporation from $115.00 to $112.00 in a research note published on Friday morning. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Jefferies Group LLC reiterated a buy rating and set a $108.00 price objective (up from $92.00) on shares of AveXis in a research report on Friday, August 11th. Chardan Capital reiterated a buy rating and set a $130.00 price objective (up from $102.50) on shares of AveXis in a research report on Friday, August 11th. BMO Capital Markets reiterated a buy rating and set a $123.00 price objective on shares of AveXis in a research report on Friday, August 11th. Citigroup Inc. lifted their price objective on shares of AveXis from $100.00 to $116.00 and gave the stock a buy rating in a research report on Monday, October 2nd. Finally, UBS AG restated a buy rating and set a $122.00 price target (up from $95.00) on shares of AveXis in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $108.26.

AveXis (NASDAQ AVXS) traded up $1.20 during midday trading on Friday, reaching $96.99. 388,400 shares of the company’s stock traded hands, compared to its average volume of 435,648. AveXis has a 12-month low of $44.68 and a 12-month high of $108.27.

AveXis (NASDAQ:AVXS) last posted its quarterly earnings data on Thursday, November 9th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.04). During the same period in the previous year, the firm posted ($0.87) EPS. equities analysts anticipate that AveXis will post -5.55 earnings per share for the current year.

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In related news, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction on Monday, October 9th. The shares were sold at an average price of $101.46, for a total value of $1,521,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $97.25, for a total transaction of $173,105.00. Following the completion of the sale, the vice president now directly owns 1,780 shares of the company’s stock, valued at approximately $173,105. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,340 shares of company stock valued at $3,559,683. 18.60% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its stake in shares of AveXis by 19.6% in the 3rd quarter. Amalgamated Bank now owns 3,187 shares of the company’s stock valued at $308,000 after purchasing an additional 523 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of AveXis by 2.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 20,943 shares of the company’s stock valued at $1,721,000 after purchasing an additional 598 shares during the last quarter. American International Group Inc. lifted its stake in shares of AveXis by 26.7% in the 1st quarter. American International Group Inc. now owns 3,521 shares of the company’s stock valued at $268,000 after purchasing an additional 742 shares during the last quarter. Seven Bridges Advisors LLC lifted its position in AveXis by 49.4% during the 2nd quarter. Seven Bridges Advisors LLC now owns 2,557 shares of the company’s stock worth $210,000 after acquiring an additional 846 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in AveXis by 0.5% during the 2nd quarter. Jennison Associates LLC now owns 184,668 shares of the company’s stock worth $15,172,000 after acquiring an additional 882 shares during the last quarter. 94.96% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for AveXis (NASDAQ:AVXS)

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