Axovant Gene Therapies (AXGT) Receives an Outperform from Leerink Partners

By George MacDonald

In a report issued on June 10, Mani Foroohar from Leerink Partners reiterated an Outperform rating on Axovant Gene Therapies (NASDAQ: AXGT), with a price target of $12.00. The company’s shares closed last Friday at $2.88.

Axovant Gene Therapies has an analyst consensus of Strong Buy, with a price target consensus of $11.75, implying a 309.4% upside from current levels. In a report issued on June 10, Chardan Capital also reiterated a Buy rating on the stock with a $15.00 price target.

According to TipRanks.com, Foroohar is a 4-star analyst with an average return of 17.4% and a 75.0% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as Adverum Biotechnologies, Eidos Therapeutics, and BridgeBio Pharma.

The company has a one-year high of $8.08 and a one-year low of $1.41. Currently, Axovant Gene Therapies has an average volume of 167.5K.

Based on the recent corporate insider activity of 10 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 AXGT in relation to earlier this year.

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.