“AXON licensed worldwide rights to AXO-Lenti-PD which effectively transforms the company’s pipeline from small molecule therapeutics to gene therapy. 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. AXO-Lenti-PD is a next-generation lentiviral vector that improves upon the efficacy of ProSavin while overcoming some of the barriers including dosing constraints imposed by the volume of administration. We are encouraged by the rapid progress of new CEO Pavan Cheruvu as he quickly implements his vision for a new AXON that is focused on transformational science. We look forward to additional business development, which we expect by year-end, and meanwhile maintain our Perform rating.”
According to TipRanks.com, Olson is a 3-star analyst with an average return of 1.9% and a 47.1% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
Currently, the analyst consensus on Axovant Sciences is Hold and the average price target is $4, representing a -12.1% downside.
In a report released today, Chardan Capital also upgraded the stock to Hold with a $4 price target.
Based on Axovant Sciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $57.9 million. In comparison, last year the company had a GAAP net loss of $52.83 million.
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Axovant Sciences Ltd. is a clinical-stage biopharmaceutical company, which engages in the acquisition, development, and commercialization of novel therapeutics for the treatment of neurodegenerative disorders. It offers RVT-101 product which is an orally administered therapy that improves cognition and daily functioning of dementia patients.