Anavex Life Sciences’ (AVXL) “Buy” Rating Reaffirmed at D. Boral Capital

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

Several other research firms have also commented on AVXL. HC Wainwright reaffirmed a “buy” rating and set a $42.00 price target on shares of Anavex Life Sciences in a research report on Tuesday, October 7th. Jones Trading lowered Anavex Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, October 24th. Wall Street Zen cut shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Anavex Life Sciences in a research note on Wednesday, November 19th. Two 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. According to MarketBeat, Anavex Life Sciences has a consensus rating of “Hold” and a consensus price target of $44.00.

Anavex Life Sciences Trading Up 9.1%

AVXL traded up $0.32 during mid-day trading on Wednesday, hitting $3.78. 2,475,004 shares of the stock were exchanged, compared to its average volume of 1,388,143. The company has a market cap of $324.23 million, a PE ratio of -6.62 and a beta of 0.92. The firm’s fifty day moving average is $7.67 and its two-hundred day moving average is $8.91. Anavex Life Sciences has a 1-year low of $2.86 and a 1-year high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Tuesday, November 25th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. During the same quarter in the previous year, the company earned ($0.14) EPS. As a group, research analysts anticipate that Anavex Life Sciences will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Anavex Life Sciences

Several hedge funds have recently modified their holdings of AVXL. LPL Financial LLC lifted its holdings in Anavex Life Sciences by 482.1% in the 1st quarter. LPL Financial LLC now owns 546,626 shares of the biotechnology company’s stock worth $4,690,000 after buying an additional 452,723 shares in the last quarter. Invesco Ltd. boosted its holdings in Anavex Life Sciences by 55.8% in the second quarter. Invesco Ltd. now owns 863,959 shares of the biotechnology company’s stock worth $7,966,000 after purchasing an additional 309,605 shares during the period. Vanguard Group Inc. grew its stake in Anavex Life Sciences by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 4,902,246 shares of the biotechnology company’s stock worth $42,061,000 after buying an additional 221,802 shares during the last quarter. Nuveen LLC bought a new position in Anavex Life Sciences in the 1st quarter worth approximately $1,622,000. Finally, Swiss National Bank bought a new stake in shares of Anavex Life Sciences during the first quarter valued at about $1,411,000. 31.55% of the stock is currently owned by hedge funds and other institutional investors.

Anavex Life Sciences Company Profile

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.