Zacks Investment Research Downgrades Axovant Sciences (AXON) to Sell

Axovant Sciences (NASDAQ:AXON) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.

According to Zacks, “Axovant Sciences Ltd. is a biopharmaceutical company which focuses on the acquisition, development and commercialization of therapeutics for the treatment of neurodegenerative disorders. Its product candidate includes RVT-101 which is in different clinical trial for the treatment of Alzheimer’s disease and other forms of dementia. Axovant Sciences Ltd. is based in Hamilton, Bermuda. “

Other analysts have also recently issued reports about the company. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Axovant Sciences in a report on Monday. Jefferies Financial Group upped their price objective on Axovant Sciences from $3.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, June 11th. Oppenheimer reaffirmed a “hold” rating on shares of Axovant Sciences in a report on Wednesday, June 6th. Chardan Capital reaffirmed a “hold” rating and set a $4.00 price objective on shares of Axovant Sciences in a report on Wednesday, June 6th. Finally, ValuEngine raised Axovant Sciences from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $11.70.



NASDAQ AXON opened at $2.10 on Monday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.34 and a current ratio of 2.34. Axovant Sciences has a 12 month low of $1.02 and a 12 month high of $27.98. The company has a market capitalization of $252.71 million, a P/E ratio of -1.02 and a beta of -0.15.

Axovant Sciences (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($0.48) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.33). equities analysts forecast that Axovant Sciences will post -1.53 earnings per share for the current year.

In related news, major shareholder Global Investors Lp Viking bought 14,285,714 shares of the business’s stock in a transaction dated Tuesday, June 5th. The shares were purchased at an average price of $1.75 per share, with a total value of $24,999,999.50. Following the transaction, the insider now owns 89,285,714 shares in the company, valued at approximately $156,249,999.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George Bickerstaff bought 25,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were bought at an average cost of $2.07 per share, for a total transaction of $51,750.00. Following the transaction, the director now owns 50,000 shares in the company, valued at approximately $103,500. The disclosure for this purchase can be found here. 6.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXON. JPMorgan Chase & Co. increased its position in shares of Axovant Sciences by 2,519.0% during the 1st quarter. JPMorgan Chase & Co. now owns 183,223 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 176,227 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Axovant Sciences during the 2nd quarter valued at approximately $338,000. Paloma Partners Management Co bought a new position in shares of Axovant Sciences during the 2nd quarter valued at approximately $356,000. A.R.T. Advisors LLC increased its position in shares of Axovant Sciences by 148.9% during the 1st quarter. A.R.T. Advisors LLC now owns 416,302 shares of the biotechnology company’s stock valued at $553,000 after purchasing an additional 249,074 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Axovant Sciences by 108.8% during the 4th quarter. Alliancebernstein L.P. now owns 108,600 shares of the biotechnology company’s stock valued at $572,000 after purchasing an additional 56,600 shares during the last quarter. 13.94% of the stock is currently owned by hedge funds and other institutional investors.

Axovant Sciences Company Profile

Axovant Sciences Ltd., a clinical-stage biopharmaceutical company, engages in developing and commercializing medicines for the treatment of dementia and related neurological disorders in the United States and Europe. Its lead product candidate, intepirdine, a selective 5-HT6 receptor antagonist, which is in Phase III clinical trial for the treatment of Alzheimer's disease; in Phase IIb clinical trial for treating dementia with Lewy bodies (DLB); and in Phase II clinical trial for treating cait and balance in Alzheimer's disease, DLB, and Parkinson's disease dementia.

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