Anavex Life Sciences (NASDAQ:AVXL) Receives “Buy” Rating from D. Boral Capital

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reaffirmed by analysts at D. Boral Capital in a research report issued on Wednesday,Benzinga reports.

A number of other brokerages have also weighed in on AVXL. Weiss Ratings restated a “sell (d-)” rating on shares of Anavex Life Sciences in a report on Wednesday, November 19th. Wall Street Zen cut shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 23rd. Jones Trading downgraded shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, October 24th. Finally, HC Wainwright restated a “buy” rating and set a $42.00 price target on shares of Anavex Life Sciences in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Anavex Life Sciences currently has a consensus rating of “Hold” and an average target price of $44.00.

Anavex Life Sciences Trading Up 11.6%

NASDAQ:AVXL traded up $0.40 during trading hours on Wednesday, hitting $3.86. 3,760,988 shares of the stock were exchanged, compared to its average volume of 1,394,325. The firm’s fifty day moving average price is $7.67 and its 200 day moving average price is $8.91. Anavex Life Sciences has a 52-week low of $2.86 and a 52-week high of $14.44. The company has a market cap of $331.54 million, a P/E ratio of -6.77 and a beta of 0.92.

Anavex Life Sciences (NASDAQ:AVXL) last released its earnings results on Tuesday, November 25th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. During the same period in the previous year, the company posted ($0.14) earnings per share. Equities analysts expect that Anavex Life Sciences will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Anavex Life Sciences by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 223,131 shares of the biotechnology company’s stock worth $1,914,000 after purchasing an additional 2,882 shares during the period. Choreo LLC acquired a new stake in shares of Anavex Life Sciences during the 1st quarter worth approximately $194,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Anavex Life Sciences during the 1st quarter valued at approximately $141,000. Cetera Investment Advisers raised its position in shares of Anavex Life Sciences by 43.3% during the 1st quarter. Cetera Investment Advisers now owns 20,059 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 6,058 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Anavex Life Sciences by 703.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,792 shares of the biotechnology company’s stock valued at $161,000 after acquiring an additional 16,453 shares during the last quarter. Hedge funds and other institutional investors own 31.55% of the company’s stock.

About Anavex Life Sciences

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of therapeutics for the treatment of central nervous system diseases. Its lead product candidate is ANAVEX 2-73 for the treatment of Alzheimer's disease and Parkinson's disease, as well as other central nervous system diseases, including rare diseases, such as Rett syndrome, a rare severe neurological monogenic disorder; and infantile spasms, Fragile X syndrome, and Angelman syndrome.