Axovant Sciences Ltd. (NYSE:AXON) Coverage Initiated at Jefferies Group LLC

Investment analysts at Jefferies Group LLC started coverage on shares of Axovant Sciences Ltd. (NYSE:AXON) in a research note issued on Monday, The Fly reports. The firm set a “buy” rating on the biotechnology company’s stock.

A number of other research analysts also recently commented on AXON. BidaskClub downgraded Axovant Sciences from a “buy” rating to a “hold” rating in a report on Thursday. CIBC increased their price target on Axovant Sciences from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 14th. Oppenheimer Holdings, Inc. increased their price target on Axovant Sciences from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 14th. Cowen and Company reiterated an “outperform” rating and set a $30.00 price target (up from $22.00) on shares of Axovant Sciences in a research report on Tuesday, June 13th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $32.00 price target on shares of Axovant Sciences in a research report on Wednesday, April 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. Axovant Sciences has a consensus rating of “Buy” and an average price target of $27.68.

Shares of Axovant Sciences (NYSE:AXON) traded down 2.04% during trading on Monday, reaching $22.10. The company had a trading volume of 521,628 shares. The firm’s market capitalization is $2.37 billion. Axovant Sciences has a 52 week low of $11.01 and a 52 week high of $25.18. The firm has a 50-day moving average of $22.40 and a 200 day moving average of $17.00.

Axovant Sciences (NYSE:AXON) last issued its earnings results on Tuesday, June 13th. The biotechnology company reported ($0.53) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by $0.02. On average, equities research analysts forecast that Axovant Sciences will post ($2.24) earnings per share for the current year.

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In other Axovant Sciences news, Director W Anthony Vernon purchased 53,937 shares of the business’s stock in a transaction on Monday, April 17th. The stock was purchased at an average price of $18.54 per share, for a total transaction of $999,991.98. Following the completion of the purchase, the director now directly owns 53,937 shares in the company, valued at $999,991.98. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Hung purchased 539,375 shares of the business’s stock in a transaction on Monday, April 17th. The shares were acquired at an average price of $18.54 per share, with a total value of $10,000,012.50. Following the purchase, the insider now owns 539,375 shares of the company’s stock, valued at $10,000,012.50. The disclosure for this purchase can be found here. 3.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. American International Group Inc. boosted its position in shares of Axovant Sciences by 7.1% in the first quarter. American International Group Inc. now owns 15,052 shares of the biotechnology company’s stock worth $225,000 after buying an additional 998 shares in the last quarter. Teachers Advisors LLC boosted its position in Axovant Sciences by 5.2% in the fourth quarter. Teachers Advisors LLC now owns 41,303 shares of the biotechnology company’s stock worth $513,000 after buying an additional 2,038 shares during the period. Bank of America Corp DE boosted its position in Axovant Sciences by 38.9% in the first quarter. Bank of America Corp DE now owns 7,396 shares of the biotechnology company’s stock worth $111,000 after buying an additional 2,072 shares during the period. Wells Fargo & Company MN boosted its position in Axovant Sciences by 34.3% in the first quarter. Wells Fargo & Company MN now owns 22,435 shares of the biotechnology company’s stock worth $335,000 after buying an additional 5,733 shares during the period. Finally, AQR Capital Management LLC purchased a new position in Axovant Sciences during the fourth quarter worth about $139,000. Hedge funds and other institutional investors own 94.52% of the company’s stock.

About Axovant Sciences

Axovant Sciences Ltd. is a clinical-stage biopharmaceutical company. The Company is focused on acquiring, developing and commercializing therapeutics for the treatment of dementia, including Alzheimer’s disease and Lewy body dementia. The Company intends to develop a pipeline of product candidates to address the cognitive, functional and behavioral aspects of dementia and related neurological disorders.

The Fly

Analyst Recommendations for Axovant Sciences (NYSE:AXON)

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