Chardan Capital Remains a Buy on Axovant Gene Therapies (AXGT)

By Jason Carr

Chardan Capital analyst Gbola Amusa reiterated a Buy rating on Axovant Gene Therapies (AXGTResearch Report) on August 14 and set a price target of $12.50. The company’s shares closed last Friday at $3.05.

According to TipRanks.com, Amusa is a 5-star analyst with an average return of 27.6% and a 47.7% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Adverum Biotechnologies, and Voyager Therapeutics.

Currently, the analyst consensus on Axovant Gene Therapies is a Strong Buy with an average price target of $13.25.

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Based on Axovant Gene Therapies’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $16.65 million. In comparison, last year the company had a GAAP net loss of $28.06 million.

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.

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 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.