Analysts Set Axovant Gene Therapies Ltd (NASDAQ:AXGT) Target Price at $29.83

Axovant Gene Therapies Ltd (NASDAQ:AXGT) has received an average rating of “Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $29.83.

AXGT has been the topic of several recent analyst reports. Svb Leerink initiated coverage on Axovant Gene Therapies in a research note on Friday, June 21st. They issued an “outperform” rating and a $18.00 price target on the stock. Cowen restated a “hold” rating on shares of Axovant Gene Therapies in a research note on Tuesday, July 9th. JMP Securities upped their price objective on Axovant Gene Therapies from $8.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. Zacks Investment Research cut Axovant Gene Therapies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, ValuEngine upgraded Axovant Gene Therapies from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

Shares of NASDAQ:AXGT traded down $0.05 during trading on Friday, hitting $7.57. The company’s stock had a trading volume of 23,197 shares, compared to its average volume of 100,518. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 1.70. Axovant Gene Therapies has a fifty-two week low of $3.81 and a fifty-two week high of $20.80. The stock’s 50-day moving average price is $6.74 and its two-hundred day moving average price is $4.71. The company has a market capitalization of $172.67 million, a PE ratio of -0.94 and a beta of 1.26.

Axovant Gene Therapies (NASDAQ:AXGT) last released its quarterly earnings results on Friday, August 9th. The company reported ($1.23) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.34) by $0.11. On average, equities analysts predict that Axovant Gene Therapies will post -4.25 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its stake in Axovant Gene Therapies by 955.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,221 shares of the company’s stock valued at $27,000 after buying an additional 3,821 shares in the last quarter. Jane Street Group LLC raised its stake in Axovant Gene Therapies by 28.8% during the second quarter. Jane Street Group LLC now owns 46,455 shares of the company’s stock valued at $289,000 after buying an additional 10,375 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Axovant Gene Therapies during the first quarter valued at approximately $272,000. BlackRock Inc. bought a new position in shares of Axovant Gene Therapies during the second quarter valued at approximately $1,482,000. Finally, Primecap Management Co. CA bought a new position in shares of Axovant Gene Therapies during the first quarter valued at approximately $1,400,000. Hedge funds and other institutional investors own 13.48% of the company’s 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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Analyst Recommendations for Axovant Gene Therapies (NASDAQ:AXGT)

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