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

D. Boral Capital reiterated their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a research note released on Tuesday,Benzinga reports. They currently have a $24.00 target price on the biotechnology company’s stock.

Other equities analysts also recently issued research reports about the stock. Jones Trading downgraded shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, October 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Anavex Life Sciences in a report on Monday, December 29th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Anavex Life Sciences in a report on Friday, December 19th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.00.

Anavex Life Sciences Price Performance

NASDAQ:AVXL opened at $4.27 on Tuesday. Anavex Life Sciences has a 1-year low of $2.86 and a 1-year high of $13.99. The company has a 50-day moving average of $4.49 and a 200 day moving average of $7.98. The firm has a market cap of $381.52 million, a PE ratio of -7.91 and a beta of 1.17.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. State of Wyoming purchased a new stake in shares of Anavex Life Sciences during the 2nd quarter valued at approximately $26,000. AlphaQuest LLC acquired a new stake in Anavex Life Sciences during the third quarter worth $29,000. Quarry LP purchased a new stake in Anavex Life Sciences in the third quarter valued at $36,000. SBI Securities Co. Ltd. lifted its stake in shares of Anavex Life Sciences by 470.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 4,879 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 4,023 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Anavex Life Sciences by 26.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,553 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 3,068 shares during the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp is a clinical?stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma?1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2?73), is a small?molecule activator of the sigma?1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.