AveXis (AVXS) PT Raised to $80 at BMO Capital Following AVXS-101 Update
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
BMO Capital analyst M. Ian Somaiya raised his price target on Outperform-rated AveXis (NASDAQ: AVXS) to $80.00 (from $52.00) as they pull forward by 12 months FDA approval of AVXS-101 for type I SMA (2019), with >70% probability of launch by late-2017/early-2018 if the FDA accepts Phase I filing.
Somaiya commented, "DA’s willingness to accept a 20-patient Phase II trial for approval speaks to the strength of the Phase I data, which demonstrated improvement in outcomes and achievement of motor milestones. Our revised estimates assume more rapid adoption, higher market share and peak sales >$1B in the US and EU alone."
Shares of AveXis closed at $48.01 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMO Capital Sees Upside in Biogen (BIIB) into Sola/Aducanumab Data at CATD
- Jefferies Raises Price Target on US Physical Therapy (USPH) to $63 Following 12-Clinic Acquisition
- Jefferies Raises Price Target on Zumiez, Inc. (ZUMZ) to $23 Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, FDA, Hot Comments
Related EntitiesBMO Capital, S1
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!