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 equities researchers at D. Boral Capital in a research report issued on Tuesday,Benzinga reports. They currently have a $24.00 price objective on the biotechnology company’s stock.

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

Anavex Life Sciences Stock Performance

Shares of AVXL stock opened at $3.10 on Tuesday. Anavex Life Sciences has a fifty-two week low of $2.61 and a fifty-two week high of $13.99. The firm has a market capitalization of $287.28 million, a PE ratio of -6.74 and a beta of 1.18. The stock’s 50-day simple moving average is $4.26 and its 200-day simple moving average is $5.48.

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

Institutional Investors Weigh In On Anavex Life Sciences

Hedge funds have recently bought and sold shares of the stock. State of Wyoming acquired a new stake in shares of Anavex Life Sciences during the 2nd quarter worth approximately $26,000. AlphaQuest LLC acquired a new position in shares of Anavex Life Sciences in the 3rd quarter valued at $29,000. Quarry LP acquired a new position in shares of Anavex Life Sciences in the 3rd quarter valued at $36,000. HBW Advisory Services LLC purchased a new stake in Anavex Life Sciences during the fourth quarter worth $40,000. Finally, BNC Wealth Management LLC boosted its holdings in Anavex Life Sciences by 19.5% during the fourth quarter. BNC Wealth Management LLC now owns 12,250 shares of the biotechnology company’s stock worth $44,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 31.55% of the company’s stock.

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.