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

Key Points

• Analysts at D. Boral Capital reaffirmed a "buy" rating for Anavex Life Sciences (AVXL) with a price target of $46.00, indicating a potential upside of 345.30% from its last close.
• On Wednesday, Anavex's stock traded down to $10.33 with a market cap of $882.36 million and a P/E ratio of -18.65.
• Institutional investors have increased their holdings in Anavex Life Sciences, with hedge funds owning 31.55% of the company's stock.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report)'s stock had its "buy" rating restated by equities researchers at D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $46.00 price objective on the biotechnology company's stock. D. Boral Capital's target price points to a potential upside of 379.67% from the stock's current price.

Anavex Life Sciences Stock Down 3.5%

Shares of NASDAQ:AVXL traded down $0.35 during trading on Wednesday, reaching $9.59. The stock had a trading volume of 788,981 shares, compared to its average volume of 1,129,189. The stock has a market cap of $823.69 million, a P/E ratio of -16.82 and a beta of 0.80. The business has a fifty day moving average price of $10.34 and a 200-day moving average price of $9.20. Anavex Life Sciences has a fifty-two week low of $4.93 and a fifty-two week high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03). As a group, equities analysts forecast that Anavex Life Sciences will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Anavex Life Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of AVXL. Private Advisor Group LLC grew its holdings in Anavex Life Sciences by 617.5% during the 1st quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company's stock valued at $1,842,000 after purchasing an additional 184,800 shares in the last quarter. Arizona State Retirement System purchased a new position in Anavex Life Sciences in the first quarter valued at about $208,000. Cambridge Investment Research Advisors Inc. grew its stake in Anavex Life Sciences by 197.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 248,139 shares of the biotechnology company's stock valued at $2,129,000 after purchasing an additional 164,792 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Anavex Life Sciences during the 1st quarter worth approximately $194,000. Finally, PVG Asset Management Corp raised its position in shares of Anavex Life Sciences by 503.5% in the 4th quarter. PVG Asset Management Corp now owns 78,490 shares of the biotechnology company's stock valued at $843,000 after purchasing an additional 65,485 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., 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.