Analysts expect that AveXis, Inc. (NASDAQ:AVXS) will report earnings of ($0.95) per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for AveXis’ earnings, with the highest EPS estimate coming in at ($0.79) and the lowest estimate coming in at ($1.10). AveXis posted earnings of ($0.68) per share in the same quarter last year, which indicates a negative year over year growth rate of 39.7%. The firm is expected to announce its next earnings report on Thursday, August 10th.
On average, analysts expect that AveXis will report full year earnings of ($4.42) per share for the current financial year, with EPS estimates ranging from ($5.61) to ($3.31). For the next year, analysts expect that the company will post earnings of ($4.05) per share, with EPS estimates ranging from ($5.32) to ($3.00). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow AveXis.
AveXis (NASDAQ:AVXS) last released its quarterly earnings results on Thursday, May 11th. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.94) by $0.13. During the same quarter last year, the firm posted ($1.24) earnings per share.
A number of equities research analysts have recently issued reports on the company. Sanford C. Bernstein assumed coverage on AveXis in a research report on Thursday, July 27th. They issued an “outperform” rating and a $108.00 price target for the company. Zacks Investment Research upgraded AveXis from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating on shares of AveXis in a research report on Wednesday, June 28th. Chardan Capital set a $103.00 price target on AveXis and gave the company a “buy” rating in a research report on Sunday, June 18th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $95.00 price target on shares of AveXis in a research report on Friday, June 16th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. AveXis has an average rating of “Buy” and a consensus price target of $90.89.
Shares of AveXis (AVXS) traded down 2.20% during trading on Thursday, hitting $90.61. The stock had a trading volume of 295,409 shares. The firm’s 50-day moving average is $80.27 and its 200 day moving average is $71.62. The firm’s market cap is $2.52 billion. AveXis has a 52-week low of $31.55 and a 52-week high of $94.59.
In related news, VP Sukumar Nagendran sold 1,780 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $81.88, for a total value of $145,746.40. Following the completion of the transaction, the vice president now directly owns 1,780 shares in the company, valued at $145,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 18.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of AVXS. BlackRock Inc. raised its position in shares of AveXis by 3,055.6% in the first quarter. BlackRock Inc. now owns 1,708,386 shares of the company’s stock valued at $129,888,000 after buying an additional 1,654,248 shares during the last quarter. State Street Corp raised its position in shares of AveXis by 619.2% in the fourth quarter. State Street Corp now owns 532,312 shares of the company’s stock valued at $25,408,000 after buying an additional 458,295 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of AveXis by 569.9% in the first quarter. Goldman Sachs Group Inc. now owns 227,961 shares of the company’s stock valued at $17,332,000 after buying an additional 193,934 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of AveXis by 32.8% in the first quarter. Point72 Asset Management L.P. now owns 717,514 shares of the company’s stock valued at $54,553,000 after buying an additional 177,114 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of AveXis by 11.7% in the first quarter. Vanguard Group Inc. now owns 1,194,809 shares of the company’s stock valued at $90,841,000 after buying an additional 124,750 shares during the last quarter. Institutional investors own 90.51% of the company’s stock.
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.
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