AveXis (AVXS) PT Raised to $71 at Jefferies; FDA Dialogue Better Than Expected

November 2, 2016 7:19 AM EDT
Get Alerts AVXS Hot Sheet
Price: $51.20 -0.66%

Rating Summary:
    5 Buy, 1 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies analyst Biren Amin reiterated a Buy rating and raised his price target on AveXis (NASDAQ: AVXS) to $71.00 (from $58.00), saying the AVXS-101 pivotal trial FDA dialogue was better than expected.

Amin commented, "AVXS announced that the FDA has signed off on a pivotal single-arm trial design versus natural history. Additionally, enrollment will be about 20 pts, much smaller than expectations, and co-primary EP of sitting unaided and event free survival. FDA also advised mgmt to set a end of PI meeting to discuss the potential approvability based on PI data. All of the points made by the FDA are very positive for AVXS therefore we raise our PT to $71."

For an analyst ratings summary and ratings history on AveXis click here. For more ratings news on AveXis click here.

Shares of AveXis closed at $48.01 yesterday.

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