HC Wainwright Has Lowered Expectations for Anixa Biosciences (NASDAQ:ANIX) Stock Price

Key Points

• HC Wainwright cut Anixa Biosciences’ price target from $7.00 to $6.00 but maintained a “buy” rating, implying approximately 121% upside from the stock’s $2.71 price.
• Analyst sentiment is mixed: three analysts rate the stock a Buy, one rates it Hold, and one rates it Sell, resulting in an overall “Hold” consensus and an $8.00 average price target.
• Anixa reported quarterly EPS of $(0.08), in line with estimates, while insiders purchased 44,188 shares worth about $138,334 over the past three months; institutional investors own 29.13% of the company.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) had its target price dropped by investment analysts at HC Wainwright from $7.00 to $6.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target suggests a potential upside of 121.40% from the stock's current price.

A number of other brokerages have also weighed in on ANIX. Wall Street Zen upgraded shares of Anixa Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. D. Boral Capital reiterated a "buy" rating and issued a $10.00 price target on shares of Anixa Biosciences in a research note on Tuesday, June 30th. Weiss Ratings raised Anixa Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday. Citigroup restated a "buy" rating on shares of Anixa Biosciences in a research report on Friday, June 12th. Finally, Zacks Research cut Anixa Biosciences from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $8.00.

Anixa Biosciences Trading Up 0.4%

NASDAQ ANIX traded up $0.01 during trading on Tuesday, hitting $2.71. 183,671 shares of the company's stock were exchanged, compared to its average volume of 201,991. The company has a market cap of $94.20 million, a PE ratio of -8.47 and a beta of 0.51. Anixa Biosciences has a fifty-two week low of $2.32 and a fifty-two week high of $5.46. The stock's 50 day moving average price is $3.29 and its two-hundred day moving average price is $2.97.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last posted its quarterly earnings results on Wednesday, September 9th. The company reported ($0.08) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.08). Analysts forecast that Anixa Biosciences will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Anixa Biosciences

In related news, Director Lewis Titterton, Jr. bought 10,000 shares of the business's stock in a transaction on Thursday, September 10th. The shares were purchased at an average cost of $2.73 per share, with a total value of $27,300.00. Following the acquisition, the director owned 996,967 shares of the company's stock, valued at $2,721,719.91. This represents a 1.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders acquired 44,188 shares of company stock worth $138,334. 26.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Anixa Biosciences

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Anixa Biosciences during the 2nd quarter valued at approximately $559,000. GSA Capital Partners LLP acquired a new position in shares of Anixa Biosciences in the 2nd quarter worth approximately $329,000. Renaissance Technologies LLC lifted its position in shares of Anixa Biosciences by 13.6% in the 1st quarter. Renaissance Technologies LLC now owns 61,173 shares of the company's stock worth $158,000 after purchasing an additional 7,300 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Anixa Biosciences in the 2nd quarter valued at $133,000. Finally, Kestra Advisory Services LLC increased its position in shares of Anixa Biosciences by 96.2% during the first quarter. Kestra Advisory Services LLC now owns 51,000 shares of the company's stock worth $132,000 after buying an additional 25,000 shares during the period. 29.13% of the stock is currently owned by institutional investors.

Anixa Biosciences Company Profile

Anixa Biosciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies and vaccines for cancer and infectious diseases. The company's research programs are designed to use the immune system to prevent or treat serious illnesses.

Anixa's cancer programs include vaccine approaches for ovarian cancer and triple-negative breast cancer, developed in collaboration with researchers at Cleveland Clinic. The company is also developing chimeric antigen receptor T-cell, or CAR-T, therapies intended to target cancer cells, including programs focused on ovarian cancer.

In addition to oncology, Anixa has pursued vaccine and therapeutic technologies for infectious diseases.

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