Axovant Gene Therapies (NASDAQ:AXGT) Cut to Hold at Zacks Investment Research – Mitchell Messenger
Posted: October 19, 2019 at 9:47 am
Zacks Investment Research cut shares of Axovant Gene Therapies (NASDAQ:AXGT) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.
According to Zacks, Axovant Sciences Ltd. is a biopharmaceutical company which focuses on the acquisition, development and commercialization of therapeutics for the treatment of neurodegenerative disorders. Its product candidate includes RVT-101 which is in different clinical trial for the treatment of Alzheimers disease and other forms of dementia. Axovant Sciences Ltd. is based in Hamilton, Bermuda.
A number of other equities research analysts also recently weighed in on AXGT. Svb Leerink assumed coverage on Axovant Gene Therapies in a research report on Friday, June 21st. They set an outperform rating and a $18.00 price target on the stock. Leerink Swann assumed coverage on Axovant Gene Therapies in a research report on Friday, June 21st. They set an outperform rating and a $5.79 price target on the stock. Cowen restated a hold rating on shares of Axovant Gene Therapies in a research report on Tuesday, July 9th. ValuEngine upgraded Axovant Gene Therapies from a sell rating to a hold rating in a research report on Thursday, August 1st. Finally, Robert W. Baird upgraded Axovant Gene Therapies from a neutral rating to an outperform rating and lowered their price target for the company from $16.00 to $13.00 in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $26.91.
Axovant Gene Therapies (NASDAQ:AXGT) last issued its quarterly earnings data on Friday, August 9th. The company reported ($1.23) earnings per share (EPS) for the quarter, topping the Zacks consensus estimate of ($1.34) by $0.11. Research analysts expect that Axovant Gene Therapies will post -4.25 EPS for the current year.
Several large investors have recently made changes to their positions in AXGT. Sphera Funds Management LTD. bought a new position in shares of Axovant Gene Therapies during the first quarter valued at about $6,794,000. BlackRock Inc. bought a new position in shares of Axovant Gene Therapies during the second quarter valued at about $1,482,000. Marshall Wace LLP bought a new position in shares of Axovant Gene Therapies during the first quarter valued at about $272,000. Jane Street Group LLC grew its stake in shares of Axovant Gene Therapies by 28.8% during the second quarter. Jane Street Group LLC now owns 46,455 shares of the companys stock valued at $289,000 after buying an additional 10,375 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Axovant Gene Therapies by 955.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,221 shares of the companys stock valued at $27,000 after buying an additional 3,821 shares during the last quarter. 13.48% of the stock is currently owned by hedge funds and other institutional investors.
About Axovant Gene Therapies
Axovant Gene Therapies Ltd., a clinical-stage gene therapy company, focuses on developing a pipeline of product candidates for debilitating neurological and neuromuscular diseases. The company's current pipeline of gene therapy candidates targets GM1 gangliosidosis, GM2 gangliosidosis, Parkinson's disease, oculopharyngeal muscular dystrophy, amyotrophic lateral sclerosis, and frontotemporal dementia.
Further Reading: Diversification Important in Investing
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Axovant Gene Therapies (NASDAQ:AXGT) Cut to Hold at Zacks Investment Research - Mitchell Messenger
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