Axovant Gene Therapies (NASDAQ:AXGT) Downgraded to Hold at Zacks Investment Research – Slater Sentinel
Posted: October 16, 2019 at 7:49 pm
Axovant Gene Therapies (NASDAQ:AXGT) was downgraded by Zacks Investment Research from a buy rating to a hold rating in a research report issued to clients and investors on Tuesday, 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.
Other research analysts have also recently issued reports about the company. Svb Leerink assumed coverage on Axovant Gene Therapies in a research note on Friday, June 21st. They issued an outperform rating and a $18.00 price objective for the company. Leerink Swann assumed coverage on Axovant Gene Therapies in a research note on Friday, June 21st. They issued an outperform rating and a $5.79 price objective for the company. Cowen restated a hold rating on shares of Axovant Gene Therapies in a research note on Tuesday, July 9th. Robert W. Baird upgraded Axovant Gene Therapies from a neutral rating to an outperform rating and reduced their price objective for the stock from $16.00 to $13.00 in a research note on Monday, August 12th. Finally, ValuEngine upgraded Axovant Gene Therapies from a sell rating to a hold rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $26.91.
Axovant Gene Therapies (NASDAQ:AXGT) last released its quarterly earnings results on Friday, August 9th. The company reported ($1.23) EPS for the quarter, beating analysts consensus estimates of ($1.34) by $0.11. As a group, equities research analysts expect that Axovant Gene Therapies will post -4.25 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of Axovant Gene Therapies by 955.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,221 shares of the companys stock worth $27,000 after purchasing an additional 3,821 shares during the last quarter. Jane Street Group LLC raised its position in 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 acquiring an additional 10,375 shares in the last quarter. Marshall Wace LLP purchased a new position in Axovant Gene Therapies during the first quarter valued at approximately $272,000. BlackRock Inc. purchased a new position in Axovant Gene Therapies during the second quarter valued at approximately $1,482,000. Finally, Sphera Funds Management LTD. purchased a new position in Axovant Gene Therapies during the first quarter valued at approximately $6,794,000. Hedge funds and other institutional investors own 13.48% of the companys stock.
Axovant Gene Therapies Company Profile
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.
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Axovant Gene Therapies (NASDAQ:AXGT) Downgraded to Hold at Zacks Investment Research - Slater Sentinel
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