Axovant Gene Therapies (NASDAQ:AXGT) was upgraded by Zacks Investment Research from a hold rating to a buy rating in a research note issued on Monday, Zacks.com reports. The brokerage presently has a $5.50 price target on the stock. Zacks Investment Researchs price objective would suggest a potential upside of 8.48% from the companys current price.

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.

Several other brokerages also recently commented on AXGT. Chardan Capital increased their price target on Axovant Gene Therapies from $10.00 to $15.00 and gave the company a buy rating in a report on Monday, October 28th. ValuEngine upgraded Axovant Gene Therapies from a hold rating to a buy rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Axovant Gene Therapies currently has an average rating of Buy and a consensus price target of $24.66.

AXGT stock traded up $0.16 during midday trading on Monday, hitting $5.07. 64,342 shares of the company traded hands, compared to its average volume of 72,781. Axovant Gene Therapies has a twelve month low of $3.81 and a twelve month high of $19.60. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.69. The business has a 50 day simple moving average of $5.18 and a 200-day simple moving average of $6.20. The stock has a market capitalization of $112.81 million, a price-to-earnings ratio of -0.63 and a beta of 1.18.

Axovant Gene Therapies (NASDAQ:AXGT) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($1.15) by $0.54. Equities research analysts forecast that Axovant Gene Therapies will post -3.56 EPS for the current year.

Several institutional investors have recently made changes to their positions in AXGT. BlackRock Inc. acquired a new stake in shares of Axovant Gene Therapies in the second quarter worth $1,482,000. Jane Street Group LLC grew its stake in shares of 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 acquiring an additional 10,375 shares during the last quarter. Barclays PLC acquired a new stake in shares of Axovant Gene Therapies in the third quarter worth $65,000. Finally, Tower Research Capital LLC TRC grew 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 acquiring an additional 3,821 shares during the last quarter. Institutional investors and hedge funds own 14.80% 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.

Further Reading: What is a stock buyback?

Get a free copy of the Zacks research report on Axovant Gene Therapies (AXGT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Axovant Gene Therapies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axovant Gene Therapies and related companies with MarketBeat.com's FREE daily email newsletter.

Go here to read the rest:
Axovant Gene Therapies (NASDAQ:AXGT) Rating Increased to Buy at Zacks Investment Research - Riverton Roll

Comments are closed.