Oppenheimer analyst Jay Olson maintained a Hold rating on Axovant Sciences (NASDAQ: AXON) yesterday. The company’s shares closed yesterday at $2.10, close to its 52-week low of $1.02.
Olson commented:
“AXON released quarterly financial results following a series of BD acquisitions focused on gene therapies. We expect AXON to outline more details on lead asset AXO-Lenti-PD as discussions with regulators progress. AXON plans to initiate a Ph1 study by YE with a dose-escalation portion and potentially a placebo-controlled second part. AXO-Lenti-PD is an experimental gene therapy that builds on the earlier success of ProSavin, which demonstrated nominal efficacy with long-term safety in an ongoing 15-patient Ph2 study. A placebo-controlled dose-escalation clinical study of the second gene therapy asset, AXO-AAV-OPMD, is expected in 2019. As AXON transforms into a gene therapy company, a decision on small molecule nelotanserin will be made after the REM Sleep Behavior Disorder data in 2H18.”
According to TipRanks.com, Olson has 0 stars on 0-5 star ranking scale with an average return of -2.6% and a 39.3% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
The word on The Street in general, suggests a Hold analyst consensus rating for Axovant Sciences with a $7 average price target.
See today’s analyst top recommended stocks >>
Based on Axovant Sciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $25.32 million. In comparison, last year the company had a GAAP net loss of $69.27 million.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AXON in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Axovant Sciences Ltd. is a clinical-stage biopharmaceutical company, which engages in the acquisition, development, and commercialization of novel therapeutics in the fields of neurology and psychiatry. Its therapeutic focus are Parkinson’s Disease and Lewy Body Dementia.