Anavex Life Sciences’ (AVXL) Buy Rating Reaffirmed at D. Boral Capital

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reissued by research analysts at D. Boral Capital in a research report issued on Tuesday,Benzinga reports. They presently have a $24.00 target price on the biotechnology company’s stock.

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

Anavex Life Sciences Price Performance

NASDAQ:AVXL opened at $3.00 on Tuesday. The business has a fifty day simple moving average of $4.34 and a two-hundred day simple moving average of $5.54. The company has a market capitalization of $277.55 million, a P/E ratio of -6.49 and a beta of 1.08. Anavex Life Sciences has a 1 year low of $2.61 and a 1 year high of $13.99.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Monday, February 9th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. As a group, analysts anticipate that Anavex Life Sciences will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Anavex Life Sciences

Several large investors have recently added to or reduced their stakes in AVXL. State Street Corp boosted its holdings in Anavex Life Sciences by 33.4% in the fourth quarter. State Street Corp now owns 4,383,406 shares of the biotechnology company’s stock worth $15,605,000 after acquiring an additional 1,096,288 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Anavex Life Sciences by 17,921.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 744,469 shares of the biotechnology company’s stock worth $2,650,000 after acquiring an additional 740,338 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Anavex Life Sciences by 187.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 872,968 shares of the biotechnology company’s stock valued at $3,108,000 after acquiring an additional 569,579 shares during the period. Summit Financial LLC increased its stake in shares of Anavex Life Sciences by 103.3% in the 4th quarter. Summit Financial LLC now owns 903,392 shares of the biotechnology company’s stock valued at $3,216,000 after purchasing an additional 459,121 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new position in Anavex Life Sciences in the 4th quarter worth about $1,310,000. 31.55% of the stock is owned by hedge funds and other institutional investors.

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.