AveXis (AVXS): Raising PT On Strive Green Light - UBS

UBS analyst, Carter Gould, reiterated his Buy rating on shares of AveXis (NASDAQ: AVXS) and raised his price target to $122 from $95 after the company announced that the FDA signed-off on the company's planned pivotal study (STR1VE) with its gene-therapy AVXS-101 in Type 1 SMA patients.

The analyst stated "the study will start immediately using the new scalable, manufacturing process. In our view, this is more a sign of solid execution (and an amenable FDA) rather than a surprise, as this outcome was largely telegraphed in June. Nevertheless, it removes a lingering bear-case
and provides clarity on our base-case timelines for approval (2020e)".

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 $95.76 yesterday.

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