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 report released on Wednesday,Benzinga reports. They currently have a $46.00 target price on the biotechnology company’s stock. D. Boral Capital’s price objective indicates a potential upside of 380.17% from the company’s previous close.

Several other brokerages have also recently issued reports on AVXL. HC Wainwright restated a “buy” rating and issued a $42.00 price objective on shares of Anavex Life Sciences in a research note on Friday, August 22nd. Wall Street Zen downgraded shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a report on Saturday, August 23rd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Anavex Life Sciences presently has a consensus rating of “Buy” and a consensus price target of $44.00.

Anavex Life Sciences Trading Up 7.9%

NASDAQ AVXL opened at $9.58 on Wednesday. Anavex Life Sciences has a 12-month low of $5.03 and a 12-month high of $14.44. The company has a fifty day simple moving average of $10.50 and a two-hundred day simple moving average of $9.31. The stock has a market cap of $822.83 million, a P/E ratio of -16.81 and a beta of 0.83.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). As a group, sell-side analysts forecast that Anavex Life Sciences will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in Anavex Life Sciences in the fourth quarter valued at approximately $167,000. Tower Research Capital LLC TRC grew its stake in shares of Anavex Life Sciences by 102.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 1,708 shares during the period. Northern Trust Corp increased its holdings in shares of Anavex Life Sciences by 1.6% during the 4th quarter. Northern Trust Corp now owns 706,901 shares of the biotechnology company’s stock valued at $7,592,000 after purchasing an additional 10,938 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Anavex Life Sciences by 5.1% in the 4th quarter. Ameriprise Financial Inc. now owns 66,810 shares of the biotechnology company’s stock valued at $718,000 after purchasing an additional 3,243 shares during the period. Finally, Cetera Investment Advisers acquired a new position in shares of Anavex Life Sciences in the 4th quarter valued at $150,000. 31.55% of the stock is currently owned by hedge funds and other 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.