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

D. Boral Capital reissued their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a research report released on Wednesday morning,Benzinga reports. They currently have a $46.00 target price on the biotechnology company’s stock.

Anavex Life Sciences Price Performance

Shares of AVXL opened at $10.56 on Wednesday. The firm has a market capitalization of $902.04 million, a PE ratio of -18.53 and a beta of 0.80. Anavex Life Sciences has a 1-year low of $4.93 and a 1-year high of $14.44. The company’s fifty day moving average price is $10.26 and its 200-day moving average price is $9.21.

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, research analysts anticipate that Anavex Life Sciences will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

A number of large investors have recently made changes to their positions in AVXL. LPL Financial LLC grew its holdings in shares of Anavex Life Sciences by 36.4% during the fourth quarter. LPL Financial LLC now owns 93,903 shares of the biotechnology company’s stock valued at $1,009,000 after buying an additional 25,048 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Anavex Life Sciences by 6.8% in the fourth quarter. Alliancebernstein L.P. now owns 115,200 shares of the biotechnology company’s stock valued at $1,237,000 after purchasing an additional 7,360 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Anavex Life Sciences by 54.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 59,066 shares of the biotechnology company’s stock valued at $634,000 after purchasing an additional 20,771 shares during the last quarter. Invesco Ltd. boosted its holdings in Anavex Life Sciences by 2,419.8% in the fourth quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company’s stock valued at $6,606,000 after purchasing an additional 590,639 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Anavex Life Sciences in the fourth quarter valued at $167,000. 31.55% of the stock is owned by hedge funds and other institutional investors.

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.