AveXis (AVXS) PT Raised to $80 at BMO Capital Following AVXS-101 Update
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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.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, FDA, Hot Comments
Related EntitiesBMO Capital, S1
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