Spinraza Prices Leaves Door 'Wide Open' for AveXis' (AVXS) AVXS-101 - BMO Capital

BMO Capital analyst M. Ian Somaiya reiterated his Outperform rating an $85 price target on AveXis (NASDAQ: AVXS) as the price of Spinraza leaves the door wide open for the company's AVXS-101.

Somaiya commented, "The price of Spinraza not only reflects the benefit the drug provides to SMA patients, but also makes clear the importance of a successful launch to BIIB (NASDAQ: BIIB) as the company’s MS franchise prepares to face branded (CELG’s ozanimod) (NASDAQ: CELG) and generic competition (Gilenya and Aubagio). The gross $750,000 price of Spinraza year 1 is 2x our estimates and equates to the lifetime price of Avexis’s AVXS-101 in our model. The Spinraza price represents an ideal scenario for AVXS-101 given the convenience of its one-and-done approach and potentially better outcomes."

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 $50.13 yesterday.

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