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

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 reaffirmed by analysts at D. Boral Capital in a note issued to investors on Wednesday,Benzinga reports. They presently have a $46.00 price target on the biotechnology company's stock. D. Boral Capital's target price would indicate a potential upside of 345.30% from the company's previous close.

Anavex Life Sciences Stock Performance

AVXL stock traded down $0.45 on Wednesday, hitting $10.33. 592,022 shares of the company's stock were exchanged, compared to its average volume of 1,128,818. Anavex Life Sciences has a 12-month low of $4.93 and a 12-month high of $14.44. The firm has a 50 day moving average price of $10.20 and a two-hundred day moving average price of $9.20. The stock has a market cap of $882.36 million, a P/E ratio of -18.65 and a beta of 0.80.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Sell-side analysts expect that Anavex Life Sciences will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Anavex Life Sciences

Hedge funds have recently modified their holdings of the stock. Choreo LLC raised its holdings in shares of Anavex Life Sciences by 47.7% during the second quarter. Choreo LLC now owns 33,411 shares of the biotechnology company's stock valued at $308,000 after acquiring an additional 10,789 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Anavex Life Sciences by 22.3% during the second quarter. Ameritas Investment Partners Inc. now owns 8,535 shares of the biotechnology company's stock valued at $79,000 after acquiring an additional 1,559 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of Anavex Life Sciences during the second quarter valued at approximately $95,000. American Century Companies Inc. acquired a new position in shares of Anavex Life Sciences during the second quarter valued at approximately $135,000. Finally, Rhumbline Advisers raised its holdings in shares of Anavex Life Sciences by 6.1% during the second quarter. Rhumbline Advisers now owns 128,370 shares of the biotechnology company's stock valued at $1,184,000 after acquiring an additional 7,377 shares during the last quarter. Hedge funds and other institutional investors own 31.55% of the company's stock.

About Anavex Life Sciences

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.

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