AveXis (AVXS) Drops to Session Lows; Report Sees Stock Due for 'Substantial' Correction
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(Updated - August 31, 2016 3:16 PM EDT)
AveXis (NASDAQ: AVXS) drops to session lows.
UPDATE - The drop could be due to a negative Biotech, Beats & BBQ report, which offered the following summary of findings:
We believe, for a number of key reasons...that AVXS is significantly overvalued relative to its accomplishments and commercialization prospects. It is our belief that the stock is due for a substantial correction as its pathway to market become dimmer by the day and its ability to generate solid, placebo controlled clinical data become non-existent.
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