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Jefferies Starts AveXis (AVXS) at Buy

March 7, 2016 7:10 AM

Jefferies initiates coverage on AveXis (NASDAQ: AVXS) with a Buy rating and a price target of $27.00.

Analyst Biren Amin commented, "AveXis is developing a gene therapy, AVXS-101, for the treatment of spinal muscular atrophy (SMA) which is caused by mutation in the SMN1 gene. Early clinical data appears encouraging in the most severe types of SMA. We expect add'l follow-up from the PI/II trial with a pivotal trial expected to initiate in '17. We currently estimate $400M in risk-adj peak sales, driving our Buy rating and $27 PT."

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 $19.67 yesterday.

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