Axovant Gene Therapies (NASDAQ:AXGT) Lifted to Buy at Zacks Investment Research – Riverton Roll
Posted: October 14, 2019 at 5:51 pm
Zacks Investment Research upgraded shares of Axovant Gene Therapies (NASDAQ:AXGT) from a hold rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. The brokerage currently has $6.50 target price on the stock.
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 equities analysts also recently issued reports about the stock. ValuEngine raised shares of Axovant Gene Therapies from a sell rating to a hold rating in a research note on Thursday, August 1st. Leerink Swann assumed coverage on shares of Axovant Gene Therapies in a research note on Friday, June 21st. They issued an outperform rating and a $5.79 price target for the company. Svb Leerink assumed coverage on shares of Axovant Gene Therapies in a research note on Friday, June 21st. They issued an outperform rating and a $18.00 price target for the company. Robert W. Baird raised shares of Axovant Gene Therapies from a neutral rating to an outperform rating and decreased their price target for the stock from $16.00 to $13.00 in a research note on Monday, August 12th. Finally, Cowen reissued a hold rating on shares of Axovant Gene Therapies in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Axovant Gene Therapies has a consensus rating of Buy and a consensus price target of $26.91.
Shares of NASDAQ:AXGT opened at $5.72 on Wednesday. Axovant Gene Therapies has a 12 month low of $3.81 and a 12 month high of $20.80. The company has a 50-day moving average price of $6.84 and a 200-day moving average price of $5.49. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.60.
Axovant Gene Therapies (NASDAQ:AXGT) last released its quarterly earnings results 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. Equities analysts expect that Axovant Gene Therapies will post -4.25 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in AXGT. Sphera Funds Management LTD. purchased a new stake in Axovant Gene Therapies in the first quarter worth about $6,794,000. Primecap Management Co. CA purchased a new stake in Axovant Gene Therapies in the first quarter worth about $1,400,000. BlackRock Inc. purchased a new stake in Axovant Gene Therapies in the second quarter worth about $1,482,000. Marshall Wace LLP purchased a new stake in Axovant Gene Therapies in the first quarter worth about $272,000. Finally, Jane Street Group LLC grew its holdings in Axovant Gene Therapies by 28.8% in the second quarter. Jane Street Group LLC now owns 46,455 shares of the companys stock worth $289,000 after purchasing an additional 10,375 shares during the period. Institutional investors and hedge funds own 13.48% of the companys stock.
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.
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Axovant Gene Therapies (NASDAQ:AXGT) Lifted to Buy at Zacks Investment Research - Riverton Roll
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