AveXis (AVXS): Survey Data From Parents Of SMA Patients - Jefferies
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Jefferies analyst, Biren Amin, reiterated his Buy rating on shares of AveXis (NASDAQ: AVXS) after conducting a survey of parents of SMA patients.
There are investor questions surrounding AVXS' ability to enroll a pivotal trial with AVXS-101 considering the open access program with nusinersen, leading the analyst to conduct his first-ever survey of parents of SMA pts. Their responses suggests they are excited about nusinersen but would be willing to enroll into the AVXS-101 trials especially if it is a single-arm trial. Parents were also attracted to AVXS-101 intravenous delivery.
The analyst surveyed 7 parents of SMA patients that he was able to identify through the web and wanted to assess their interest on upcoming trials given current competitive trends. Based on the survey parents noted that they would be most interested in enrolling Type 1 infants into a single arm trial of AVXS-101 vs controlled study. In the event of a nusinersen open access program, parents were equally interested in opting for the AVXS-101 trial given they would be allowed to treat their child with nusinersen upon disease progression. This feedback highlights the upcoming Type B meeting with the FDA this month and its outcome expected in Nov as a key catalyst for AVXS shares.
No change to the price target of $50.
Shares of AveXis closed at $41.00 yesterday.
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