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

Key Points

• Analysts at D. Boral Capital reaffirmed a "buy" rating for Anavex Life Sciences (AVXL), with a target price of $46.00, indicating a potential upside of 310.71% from its current price.
• HC Wainwright also issued a "buy" rating for the company, setting a price objective at $42.00 on the same day.
• As of Monday, Anavex Life Sciences shares opened at $11.20, with a market capitalization of $956.70 million and recent earnings performance exceeding expectations.

D. Boral Capital reaffirmed their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL - Free Report) in a research report sent to investors on Monday morning,Benzinga reports. D. Boral Capital currently has a $46.00 target price on the biotechnology company's stock.

Separately, HC Wainwright reaffirmed a "buy" rating and set a $42.00 price objective on shares of Anavex Life Sciences in a research report on Monday, April 7th.

Anavex Life Sciences Stock Performance

NASDAQ:AVXL traded down $0.14 during trading hours on Monday, hitting $11.08. The stock had a trading volume of 695,696 shares, compared to its average volume of 1,129,133. The company has a market cap of $946.45 million, a price-to-earnings ratio of -20.15 and a beta of 0.80. Anavex Life Sciences has a one year low of $4.93 and a one year high of $14.44. The business's 50 day moving average is $9.99 and its 200-day moving average is $9.19.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. During the same period in the prior year, the company earned ($0.13) earnings per share. On average, sell-side analysts anticipate that Anavex Life Sciences will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Vermillion Wealth Management Inc. bought a new position in shares of Anavex Life Sciences in the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC lifted its stake in shares of Anavex Life Sciences by 102.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company's stock worth $36,000 after buying an additional 1,708 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Anavex Life Sciences by 470.0% in the second quarter. SBI Securities Co. Ltd. now owns 4,879 shares of the biotechnology company's stock valued at $45,000 after acquiring an additional 4,023 shares in the last quarter. Kovack Advisors Inc. acquired a new position in shares of Anavex Life Sciences during the 2nd quarter worth approximately $93,000. Finally, E Fund Management Co. Ltd. bought a new position in Anavex Life Sciences during the 1st quarter worth $102,000. Institutional investors own 31.55% of the company's stock.

Anavex Life Sciences Company Profile

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.