Anavex Life Sciences (NASDAQ:AVXL) Receives “Buy” Rating from D. Boral Capital

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reiterated by equities research analysts at D. Boral Capital in a research report issued on Monday,Benzinga reports. They currently have a $46.00 target price on the biotechnology company’s stock. D. Boral Capital’s price target would suggest a potential upside of 323.18% from the company’s current price.

Separately, HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Anavex Life Sciences in a research report on Wednesday, November 27th.

Anavex Life Sciences Stock Performance

Shares of AVXL stock opened at $10.87 on Monday. The firm’s 50 day moving average price is $7.91 and its two-hundred day moving average price is $6.29. The stock has a market cap of $921.73 million, a PE ratio of -21.74 and a beta of 0.73. Anavex Life Sciences has a 52-week low of $3.25 and a 52-week high of $12.48.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.03. As a group, sell-side analysts predict that Anavex Life Sciences will post -0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Anavex Life Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in Anavex Life Sciences by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 2,401 shares during the period. Franklin Resources Inc. lifted its stake in Anavex Life Sciences by 6.7% in the third quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock valued at $317,000 after buying an additional 3,674 shares in the last quarter. Private Advisor Group LLC lifted its stake in Anavex Life Sciences by 10.3% in the third quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company’s stock valued at $269,000 after buying an additional 4,442 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Anavex Life Sciences by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock worth $93,000 after acquiring an additional 6,366 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Anavex Life Sciences by 97.0% during the third quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company’s stock worth $86,000 after acquiring an additional 7,421 shares during the period. 31.55% of the stock is owned by 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.