Brokerages Set Anixa Biosciences Inc (NASDAQ:ANIX) PT at $9.00

Shares of Anixa Biosciences Inc (NASDAQ:ANIX) have earned an average rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $9.00.

Several equities analysts have recently weighed in on ANIX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Anixa Biosciences in a research note on Tuesday, October 14th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Anixa Biosciences in a research note on Thursday, September 11th. Zacks Research upgraded Anixa Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Finally, D. Boral Capital reiterated a “buy” rating and set a $10.00 target price on shares of Anixa Biosciences in a report on Tuesday, October 7th.

Insider Activity at Anixa Biosciences

In related news, Director Lewis H. Titterton, Jr. bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average cost of $3.08 per share, for a total transaction of $30,800.00. Following the acquisition, the director owned 953,334 shares in the company, valued at $2,936,268.72. This represents a 1.06% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 25.30% of the company’s stock.

Institutional Investors Weigh In On Anixa Biosciences

Several hedge funds have recently modified their holdings of ANIX. NewEdge Advisors LLC purchased a new stake in shares of Anixa Biosciences during the 2nd quarter valued at about $33,000. Private Advisor Group LLC purchased a new stake in shares of Anixa Biosciences during the 1st quarter valued at about $35,000. Benjamin Edwards Inc. purchased a new stake in Anixa Biosciences during the 2nd quarter worth approximately $37,000. Marshall Wace LLP purchased a new stake in Anixa Biosciences during the 2nd quarter worth approximately $39,000. Finally, World Investment Advisors purchased a new stake in Anixa Biosciences during the 3rd quarter worth approximately $48,000. 29.13% of the stock is currently owned by hedge funds and other institutional investors.

Anixa Biosciences Price Performance

NASDAQ ANIX opened at $4.14 on Wednesday. The firm has a market capitalization of $136.29 million, a P/E ratio of -11.83 and a beta of 0.69. Anixa Biosciences has a 1-year low of $2.07 and a 1-year high of $4.98. The business’s 50-day simple moving average is $3.49 and its 200-day simple moving average is $3.16.

Anixa Biosciences (NASDAQ:ANIX) last released its quarterly earnings data on Wednesday, September 10th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. On average, equities research analysts expect that Anixa Biosciences will post -0.41 EPS for the current fiscal year.

About Anixa Biosciences

Anixa Biosciences, Inc, a biotechnology company, develops therapies and vaccines focusing on critical unmet needs in oncology and infectious diseases. The company's therapeutics programs include the development of a chimeric endocrine receptor T-cell therapy, a novel form of chimeric antigen receptor T-cell (CAR-T) technology focusing on the treatment of ovarian cancer.