Anavex Life Sciences (NASDAQ:AVXL) Earns Buy Rating from D. Boral Capital

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reaffirmed by equities research analysts at D. Boral Capital in a note issued to investors on Monday,Benzinga reports. They presently have a $46.00 target price on the biotechnology company’s stock. D. Boral Capital’s target price suggests a potential upside of 339.35% from the company’s previous close.

Separately, HC Wainwright upped their target price on Anavex Life Sciences from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 26th.

Anavex Life Sciences Stock Performance

Shares of AVXL opened at $10.47 on Monday. The firm has a market capitalization of $888.02 million, a price-to-earnings ratio of -20.94 and a beta of 0.70. The stock’s fifty day moving average is $9.55 and its 200-day moving average is $7.06. Anavex Life Sciences has a one year low of $3.25 and a one year high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. Analysts forecast that Anavex Life Sciences will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Anavex Life Sciences by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock worth $10,699,000 after purchasing an additional 51,946 shares during the last quarter. Nwam LLC bought a new stake in Anavex Life Sciences during the third quarter worth approximately $5,172,000. Charles Schwab Investment Management Inc. boosted its holdings in Anavex Life Sciences by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company’s stock worth $3,783,000 after buying an additional 14,892 shares in the last quarter. Renaissance Technologies LLC grew its position in Anavex Life Sciences by 483.8% in the second quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company’s stock worth $1,968,000 after buying an additional 386,537 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Anavex Life Sciences by 17.1% in the second quarter. Bank of New York Mellon Corp now owns 280,556 shares of the biotechnology company’s stock valued at $1,184,000 after buying an additional 40,895 shares in the last quarter. 31.55% of the stock is owned by institutional investors and hedge funds.

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.