AveXis (AVXS) PT Raised to $79 at Jefferies
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Jefferies analyst Biren Amin reiterated a Buy rating and boosted his price target on AveXis (NASDAQ: AVXS) to $79.00 (from $71.00).
Amin commented, "The EMA hosted a workshop on Friday to discuss pot'l trial designs for SMA Type 1 which may influence AVXS' development plan in EU. We are more confident that EMA could follow FDA's steps and approve on a single arm design trial so long as a significant effect is achieved over baseline on a motor milestone such as sitting in the pivotal study. We therefore lower our ex-U.S risk discount which increases our PT to $79 (from $71)."
Shares of AveXis closed at $67.35 yesterday.
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