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

AveXis, Inc. (NASDAQ:AVXS) had its price target cut by investment analysts at Bank of America Corporation from $115.00 to $112.00 in a research note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Bank of America Corporation’s target price suggests a potential upside of 16.92% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Sanford C. Bernstein began coverage on shares of AveXis in a report on Thursday, July 27th. They issued an “outperform” rating and a $108.00 price target on the stock. Royal Bank Of Canada restated a “hold” rating and issued a $92.00 price target on shares of AveXis in a report on Thursday, November 2nd. Evercore ISI began coverage on shares of AveXis in a report on Wednesday, August 16th. They issued an “outperform” rating and a $120.00 price target on the stock. Wells Fargo & Company restated an “outperform” rating and issued a $134.00 price target (up previously from $89.00) on shares of AveXis in a report on Tuesday, September 5th. Finally, Zacks Investment Research upgraded shares of AveXis from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $108.26.

Shares of AveXis (AVXS) opened at $95.79 on Friday. AveXis has a 12-month low of $44.68 and a 12-month high of $108.27.

AveXis (NASDAQ:AVXS) last released its earnings results on Thursday, November 9th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.48) by ($0.04). During the same period last year, the business earned ($0.87) EPS. equities research analysts anticipate that AveXis will post -5.55 earnings per share for the current fiscal year.

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In other news, VP Sukumar Nagendran sold 1,780 shares of AveXis stock in a transaction that occurred 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 sale, the vice president now owns 1,780 shares in the company, valued at $173,105. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian K. Kaspar sold 15,000 shares of AveXis stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $101.46, for a total transaction of $1,521,900.00. The disclosure for this sale can be found here. Insiders have sold 35,340 shares of company stock worth $3,559,683 in the last quarter. Insiders own 18.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio purchased a new stake in shares of AveXis during the third quarter valued at approximately $116,000. Botty Investors LLC purchased a new stake in shares of AveXis during the second quarter valued at approximately $123,000. Ameritas Investment Partners Inc. increased its stake in shares of AveXis by 331.0% in the second quarter. Ameritas Investment Partners Inc. now owns 2,112 shares of the company’s stock worth $174,000 after buying an additional 1,622 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of AveXis in the third quarter worth $200,000. Finally, Deschutes Portfolio Strategy LLC bought a new stake in shares of AveXis in the third quarter worth $203,000. Institutional investors own 94.96% of the company’s stock.

About AveXis

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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