Axovant Gene Therapies (NASDAQ:AXGT) Rating Lowered to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of Axovant Gene Therapies (NASDAQ:AXGT) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

Other research analysts have also issued reports about the company. Robert W. Baird upgraded Axovant Gene Therapies from a neutral rating to an outperform rating and cut their target price for the company from $16.00 to $13.00 in a research note on Monday, August 12th. Svb Leerink initiated coverage on Axovant Gene Therapies in a research note on Friday, June 21st. They set an outperform rating and a $18.00 price objective for the company. JMP Securities increased their price objective on Axovant Gene Therapies from $8.00 to $28.00 and gave the stock an outperform rating in a research note on Thursday, June 6th. Cowen reiterated a hold rating on shares of Axovant Gene Therapies in a research note on Tuesday, July 9th. Finally, ValuEngine upgraded Axovant Gene Therapies from a sell rating to a hold rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $26.79.

Shares of NASDAQ AXGT opened at $6.92 on Wednesday. The company has a fifty day moving average price of $6.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.70 and a quick ratio of 2.63. Axovant Gene Therapies has a one year low of $3.81 and a one year high of $20.80.

Axovant Gene Therapies (NASDAQ:AXGT) last issued its earnings results on Tuesday, June 11th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($1.70) by $1.25. Equities analysts anticipate that Axovant Gene Therapies will post -4.25 EPS for the current year.

In related news, CEO Pavan Cheruvu acquired 7,500 shares of the company’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $5.21 per share, for a total transaction of $39,075.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.60% of the company’s stock.

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased 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 company’s stock valued at $27,000 after buying an additional 3,821 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Axovant Gene Therapies in the first quarter valued at $272,000. Jane Street Group LLC increased 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 company’s stock valued at $289,000 after buying an additional 10,375 shares in the last quarter. Primecap Management Co. CA acquired a new stake in shares of Axovant Gene Therapies in the first quarter valued at $1,400,000. Finally, BlackRock Inc. acquired a new stake in shares of Axovant Gene Therapies in the second quarter valued at $1,482,000.

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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