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

D. Boral Capital reaffirmed their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a research report sent to investors on Monday,Benzinga reports. D. Boral Capital currently has a $24.00 price target on the biotechnology company’s stock.

Other equities research analysts have also issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Anavex Life Sciences in a report on Tuesday, February 10th. Wall Street Zen upgraded Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Anavex Life Sciences in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Anavex Life Sciences presently has a consensus rating of “Hold” and an average target price of $22.00.

Anavex Life Sciences Trading Up 9.4%

Anavex Life Sciences stock opened at $4.44 on Monday. The firm has a market cap of $411.45 million, a P/E ratio of -9.65 and a beta of 1.08. Anavex Life Sciences has a 1-year low of $2.86 and a 1-year high of $13.99. The firm has a 50-day moving average of $4.52 and a 200-day moving average of $5.77.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings data on Monday, February 9th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Research analysts forecast that Anavex Life Sciences will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Anavex Life Sciences

A number of large investors have recently made changes to their positions in the business. State of Wyoming acquired a new stake in Anavex Life Sciences in the 2nd quarter worth approximately $26,000. AlphaQuest LLC acquired a new position in Anavex Life Sciences during the 3rd quarter valued at approximately $29,000. Quarry LP purchased a new position in shares of Anavex Life Sciences in the third quarter worth $36,000. Russell Investments Group Ltd. raised its holdings in shares of Anavex Life Sciences by 11,540.0% in the third quarter. Russell Investments Group Ltd. now owns 6,984 shares of the biotechnology company’s stock worth $62,000 after buying an additional 6,924 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Anavex Life Sciences by 22.3% during the second quarter. Ameritas Investment Partners Inc. now owns 8,535 shares of the biotechnology company’s stock worth $79,000 after buying an additional 1,559 shares during the period. 31.55% of the stock is owned by institutional investors and hedge funds.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.