D. Boral Capital Reaffirms Buy Rating for Anavex Life Sciences (NASDAQ:AVXL)

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reissued by stock analysts at D. Boral Capital in a research note issued on Wednesday,Benzinga reports. They presently have a $46.00 target price on the biotechnology company’s stock. D. Boral Capital’s price objective would indicate a potential upside of 454.89% from the stock’s current price.

Separately, HC Wainwright reiterated a “buy” rating and set a $42.00 price target on shares of Anavex Life Sciences in a research note on Tuesday, January 28th.

Anavex Life Sciences Stock Performance

Shares of NASDAQ AVXL opened at $8.29 on Wednesday. Anavex Life Sciences has a fifty-two week low of $3.25 and a fifty-two week high of $14.44. The company has a market cap of $703.16 million, a PE ratio of -15.94 and a beta of 0.69. The business has a 50-day simple moving average of $9.93 and a two-hundred day simple moving average of $7.69.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. On average, sell-side analysts predict that Anavex Life Sciences will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVXL. Barclays PLC boosted its stake in shares of Anavex Life Sciences by 70.4% in the third quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock worth $882,000 after buying an additional 64,101 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Anavex Life Sciences by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company’s stock valued at $3,783,000 after acquiring an additional 14,892 shares during the period. Franklin Resources Inc. boosted its position in Anavex Life Sciences by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock worth $317,000 after purchasing an additional 3,674 shares in the last quarter. Nwam LLC acquired a new stake in shares of Anavex Life Sciences during the 3rd quarter worth approximately $5,172,000. Finally, Geode Capital Management LLC lifted its stake in shares of Anavex Life Sciences by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock valued at $10,699,000 after purchasing an additional 51,946 shares during the period. 31.55% of the stock is owned by institutional investors and hedge funds.

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.