AveXis (AVXS) PT Raised to $50 at Jefferies on Evidence of Trial Patient Walking
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Jefferies analyst Biren Amin reiterated a Buy rating and boosted his price target on AveXis (NASDAQ: AVXS) to $50.00 (from $42.00) after they found a patient they believe is in the AVXS-101 trial whose parents posted a video of her walking.
While the firm does not have 100% confirmation that this patient is indeed in the AVXS trial, they think there's a strong likelihood that she is in the AVXS-101 trial.
"We believe her achievement to walk is significant given that she a Type 1 SMA baby w/ 2 copy number and would not in any normal circumstance be expected to walk (walking seen in Type 3 SMA). Our finding comes ahead of AVXS' plan to disclose patient data on motor milestones from its PI trial later this year."
Shares of AveXis closed at $41.72 yesterday.
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Related EntitiesJefferies & Co, S1
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