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

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

Several other equities research analysts have also issued reports on the stock. Wall Street Zen lowered shares of 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 set a $42.00 target price on shares of Anavex Life Sciences in a research report on Wednesday, September 10th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Anavex Life Sciences currently has a consensus rating of “Buy” and a consensus target price of $44.00.

Anavex Life Sciences Stock Up 1.2%

Shares of NASDAQ:AVXL opened at $9.01 on Wednesday. The firm has a fifty day simple moving average of $9.85 and a two-hundred day simple moving average of $9.33. Anavex Life Sciences has a 52 week low of $5.03 and a 52 week high of $14.44. The stock has a market capitalization of $773.87 million, a P/E ratio of -15.81 and a beta of 0.83.

Anavex Life Sciences (NASDAQ:AVXL) last released its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). On average, analysts expect that Anavex Life Sciences will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On Anavex Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. LPL Financial LLC raised its holdings in shares of Anavex Life Sciences by 482.1% in the first quarter. LPL Financial LLC now owns 546,626 shares of the biotechnology company’s stock valued at $4,690,000 after acquiring an additional 452,723 shares in the last quarter. Invesco Ltd. increased its position in Anavex Life Sciences by 55.8% during the 2nd quarter. Invesco Ltd. now owns 863,959 shares of the biotechnology company’s stock valued at $7,966,000 after purchasing an additional 309,605 shares during the period. Vanguard Group Inc. raised its holdings in shares of Anavex Life Sciences by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 4,902,246 shares of the biotechnology company’s stock valued at $42,061,000 after purchasing an additional 221,802 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Anavex Life Sciences in the 1st quarter worth approximately $1,622,000. Finally, Private Advisor Group LLC boosted its stake in shares of Anavex Life Sciences by 617.5% during the first quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company’s stock valued at $1,842,000 after purchasing an additional 184,800 shares in the last quarter. Institutional investors own 31.55% of the company’s stock.

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.