Zacks Investment Research Lowers Axovant Sciences (AXON) to Hold

Zacks Investment Research lowered shares of Axovant Sciences (NASDAQ:AXON) from a buy rating to a hold rating in a report issued on Tuesday.

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 Alzheimer’s disease and other forms of dementia. Axovant Sciences Ltd. is based in Hamilton, Bermuda. “

AXON has been the subject of several other reports. BidaskClub upgraded Axovant Sciences from a strong sell rating to a sell rating in a research report on Tuesday, October 16th. Cowen reiterated a hold rating on shares of Axovant Sciences in a research report on Thursday, September 20th. ValuEngine upgraded Axovant Sciences from a hold rating to a buy rating in a research report on Thursday, November 1st. Oppenheimer reiterated a hold rating on shares of Axovant Sciences in a research report on Sunday, November 11th. Finally, HC Wainwright reiterated a buy rating and set a $7.00 price target on shares of Axovant Sciences in a research report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Axovant Sciences has an average rating of Hold and an average price target of $4.56.

Shares of AXON traded up $0.03 during trading hours on Tuesday, hitting $1.95. 665 shares of the stock were exchanged, compared to its average volume of 604,512. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.97 and a current ratio of 1.97. Axovant Sciences has a 12-month low of $1.02 and a 12-month high of $6.59. The stock has a market capitalization of $238.45 million, a price-to-earnings ratio of -0.94 and a beta of 0.43.

A number of large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in Axovant Sciences by 1,627.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 62,139 shares of the biotechnology company’s stock valued at $141,000 after buying an additional 58,541 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Axovant Sciences by 12.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 559,602 shares of the biotechnology company’s stock valued at $1,354,000 after buying an additional 64,152 shares in the last quarter. BlackRock Inc. grew its holdings in Axovant Sciences by 3.4% in the 1st quarter. BlackRock Inc. now owns 3,012,515 shares of the biotechnology company’s stock valued at $4,006,000 after buying an additional 100,296 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Axovant Sciences in the 2nd quarter valued at $338,000. Finally, Paloma Partners Management Co purchased a new stake in Axovant Sciences in the 2nd quarter valued at $356,000. Institutional investors own 9.31% of the company’s stock.

About Axovant Sciences

Axovant Sciences Ltd., a clinical-stage biopharmaceutical company, engages in acquisition, development, and commercialization of therapeutics in the fields of neurology and psychiatry in the United States and the European Union. It focuses on developing AXO-Lenti-PD, an in vivo lentiviral gene therapy investigational product candidate for the one-time treatment of Parkinson's disease.

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