Anavex Life Sciences’ (AVXL) Buy Rating Reiterated at D. Boral Capital

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reiterated by stock analysts at D. Boral Capital in a report issued on Wednesday,Benzinga reports. They presently have a $46.00 price target on the biotechnology company’s stock. D. Boral Capital’s price target would suggest a potential upside of 454.89% from the stock’s previous close.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $42.00 price objective on shares of Anavex Life Sciences in a research note on Tuesday, January 28th.

Anavex Life Sciences Stock Down 5.9 %

AVXL opened at $8.29 on Wednesday. The company has a market cap of $703.16 million, a price-to-earnings ratio of -15.94 and a beta of 0.69. The firm’s fifty day simple moving average is $9.93 and its two-hundred day simple moving average is $7.69. Anavex Life Sciences has a 52-week low of $3.25 and a 52-week high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. On average, research analysts forecast that Anavex Life Sciences will post -0.73 EPS for the current year.

Institutional Trading of Anavex Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of AVXL. Barclays PLC grew its holdings in shares of Anavex Life Sciences by 70.4% in the third quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock valued at $882,000 after purchasing an additional 64,101 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Anavex Life Sciences by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company’s stock valued at $3,783,000 after purchasing an additional 14,892 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Anavex Life Sciences by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock valued at $317,000 after purchasing an additional 3,674 shares during the last quarter. Nwam LLC purchased a new stake in shares of Anavex Life Sciences in the 3rd quarter valued at approximately $5,172,000. Finally, Geode Capital Management LLC increased its holdings in shares of Anavex Life Sciences by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock worth $10,699,000 after buying an additional 51,946 shares during the last quarter. 31.55% of the stock is owned by institutional investors and hedge funds.

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.