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AveXis (AVXS) Surges: Stock Moves 5% Higher

Zacks Equity Research

AveXis, Inc. AVXS was a big mover last session, as the company saw its shares rise over 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $67.48–$80.34 in the past one-month time frame, witnessed a sharp increase on Friday.

The shares jumped after Citi raised its price target on AveXis to $100.00 (from $90.00) while maintaining a Buy rating, following AveXis’ alignment with the U.S. Food and Drug Administration on the company’s Good Manufacturing Practice commercial manufacturing process for AVXS-101.

The company has seen two negative estimate revisions in the past two months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past two months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

AveXis currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.  

AveXis, Inc. Price and Consensus

AveXis, Inc. Price and Consensus | AveXis, Inc. Quote

A better-ranked stock in the Medical - Biomedical and Genetics industry is VIVUS, Inc. VVUS, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is AVXS going up? Or down? Predict to see what others think: Up or Down

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