Axovant Gene Therapies (AXGT) Receives a Rating Update from a Top Analyst

By Carrie Williams

In a report released today, Gbola Amusa from Chardan Capital reiterated a Buy rating on Axovant Gene Therapies (AXGTResearch Report), with a price target of $15.00. The company’s shares closed last Wednesday at $3.40.

According to TipRanks.com, Amusa is a top 100 analyst with an average return of 27.8% and a 53.7% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Adverum Biotechnologies, and Catalyst Biosciences.

Axovant Gene Therapies has an analyst consensus of Moderate Buy, with a price target consensus of $13.50.

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Based on Axovant Gene Therapies’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $14.04 million. In comparison, last year the company had a GAAP net loss of $34.3 million.

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Axovant Gene Therapies Ltd. is a clinical-stage biopharmaceutical company, which engages in the acquisition, development, and commercialization of gene therapies for neurological diseases. Its product pipeline focus on Parkinson’s Disease, GM1 gangliosidosis, and GM2 gangliosidosis such as Tay-Sachs disease and Sandhoff disease. The company was founded on October 31, 2014 and is headquartered in London, United Kingdom.