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

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

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

Anavex Life Sciences Stock Performance

NASDAQ AVXL traded up $0.40 during mid-day trading on Wednesday, reaching $3.86. 3,759,514 shares of the stock were exchanged, compared to its average volume of 1,394,298. The company has a market capitalization of $331.54 million, a P/E ratio of -6.77 and a beta of 0.92. The business’s 50 day moving average is $7.67 and its 200-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 issued its quarterly earnings data on Tuesday, November 25th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. During the same quarter last year, the company posted ($0.14) earnings per share. Equities analysts predict that Anavex Life Sciences will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in shares of Anavex Life Sciences during the third quarter worth $727,000. Verition Fund Management LLC lifted its stake in shares of Anavex Life Sciences by 109.8% in the third quarter. Verition Fund Management LLC now owns 68,859 shares of the biotechnology company’s stock worth $613,000 after buying an additional 36,039 shares in the last quarter. Quarry LP acquired a new position in Anavex Life Sciences during the third quarter worth about $36,000. Brevan Howard Capital Management LP purchased a new stake in Anavex Life Sciences during the 3rd quarter valued at about $153,000. Finally, Bank of America Corp DE grew its stake in Anavex Life Sciences by 3.7% during the 3rd quarter. Bank of America Corp DE now owns 170,886 shares of the biotechnology company’s stock valued at $1,521,000 after acquiring an additional 6,157 shares in the last quarter. Hedge funds and other institutional investors own 31.55% of the company’s stock.

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.