AveXis (AVXS): World Muscle Society Data Supports Remarkable Efficacy In Infants - BMO
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BMO Capital analyst, Ian Somaiya, reiterated his Outperform rating on shares of AveXis (NASDAQ: AVXS) since he believes data presented at the International Congress of the World Muscle Society continue to support AVXS-101's remarkable efficacy in infants with type 1 SMA.
The comparison of '101's data to Nusinersen's Phase 2 trial points to more motor milestones being achieved with '101, likely driven by more rapid induction of SMN protein expression to prevent motor neuron loss. The analyst believes AVXS's next key catalyst is feedback on the design of the Phase 3 trial (expected in late October/early November).
No change to the price target of $52 based on a DCF of 2017-2025E FCF, discounted 17.5% with a 4% terminal multiple.
Shares of AveXis closed at $47.51 yesterday.
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