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AVXS

AveXis

$44.55

2.36 (5.59%)

07:42
10/06/16
10/06
07:42
10/06/16
07:42

AveXis attractive acquisition target, price target to $71 at Goldman

Goldman analyst Salveen Richter said AveXis has two approaching catalysts coming up, the AVXS-101 update in SMA Type 1 at the World Muscle Society, or WMS, on October 8, and clarity on the AVXS-101 pivotal trial design in late October/early November. The analyst expects positive WMS data and raaised his probability of success to 60% from 45%. He expects compelling motor milestone data and pivotal trial visibility to make AveXis an attractive acquisition target and raised his price target to $71 from $46 on shares and reiterated his Buy rating.

  • 06

    Nov

AVXS AveXis
$44.55

2.36 (5.59%)

08/17/16
WELS
08/17/16
UPGRADE
WELS
Outperform
AveXis upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Jim Birchenough upgraded AveXis (AVXS) to Outperform after speaking to five experts in spinal muscular atrophy. The experts were impressed with both Ionis Pharmaceuticals (IONS)/Biogen's (BIIB) nusinersen and AveXis' gene therapy AVXS101, and suggested that likely incomplete restoration of normal neuromuscular phenotype could prompt combination use of both treatments, Birchenough tells investors in a research note. The analyst raised his price target range for AveXis shares to $56-$61 from $30-$32. The stock closed yesterday down $1.91 to $41.66.
09/19/16
JEFF
09/19/16
NO CHANGE
Target $50
JEFF
Buy
Jefferies thinks it found baby in AveXis trial that is walking
Jefferies analyst Biren Amin believes a video posted online of a baby walking has a "strong likelihood" of being a patient in AveXis' AVXS-101 trial. AVXS-101 is a gene therapy candidate in Phase I testing for spinal muscular atrophy. The near 20 month old's achievement to walk "is significant" given that she is a Type 1 SMA baby with 2 copy number and would not in any normal circumstance be expected to walk, Amin tells investors in a research note. The analyst points out that his finding online comes ahead of AveXis' plan to disclose patient data on motor milestones from its Phase 1 trial later this year. To reflect increased confidence in AVXS-101's prospects, Amin raised his price target for the shares to $50 from $42. The clinical-stage gene therapy company, formerly known as Biolife Cell Bank, closed Friday up 83c to $41.72.
09/26/16
PIPR
09/26/16
NO CHANGE
Target $46
PIPR
Overweight
Ionis nusinersen program advancing faster than expected, says Piper Jaffray
After Biogen (BIIB) and Ionis (IONS) announced that Biogen has completed the rolling submission of a New Drug Application to the U.S. FDA for the approval of nusinersen, an investigational treatment for spinal muscular atrophy, Piper Jaffray analyst Joshua Schimmer said that the nusinersen program is advancing faster than many have expected. Nusinersen may launch before AveXis (AVXS) starts its next Phase 3 trial, added Schimmer, who believes nusinersen will emerge as a multi-billion dollar product. The analyst keeps an Overweight rating and $46 price target on Ionis shares.
09/28/16
JEFF
09/28/16
NO CHANGE
Target $50
JEFF
Buy
Jefferies parent survey shows interest in AveXis pivotal trial
Jefferies analyst Biren Amin conducted a survey of parents of spinal muscular atrophy patients amid investor questions surrounding AveXis' (AVXS) ability to enroll a pivotal trial with AVXS-101 given the open access program with nusinersen, the investigational drug being developed by Ionis Pharmaceuticals (IONS) and Biogen (BIIB). Parents value the option of nusinersen treatment but are also willing to enroll in clinical trials of AVXS-101, Amin tells investors in a research note, citing his survey of seven parents. A single arm trial of AVXS-101 was the most preferred clinical trial design for the upcoming Phase 3 of AVXS-101, he added. The analyst believes his parent responses suggest excitement over nusinersen but also a willingness to enroll into the AVXS-101 trials, especially if it is a single-arm trial. Parents were also attracted to AVXS-101 intravenous delivery, which could be a "meaningful advantage," Amin contends. The analyst keeps a Buy rating on AveXis with a $50 price target. The stock closed yesterday up 88c to $41.00. Amin caused a rally in AveXis shares on September 19 when writing about finding a video online of a spinal muscular atrophy baby walking that he believed to be a patient in the company's trial of AVXS-101.

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