Anavex Life Sciences (NASDAQ:AVXL) Receives "Buy" Rating from D. Boral Capital

Key Points

• D. Boral Capital has reaffirmed a "Buy" rating for Anavex Life Sciences (AVXL), setting a target price of $46.00, which indicates a potential upside of 382.69%.
• The stock is currently rated "Buy" by two investment analysts, though it received a recent downgrade from Wall Street Zen from "hold" to "sell".
• Anavex Life Sciences reported a $0.16 earnings per share loss for the last quarter, missing analysts' estimates by $0.03.

D. Boral Capital restated their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL - Free Report) in a research report released on Wednesday morning,Benzinga reports. They currently have a $46.00 target price on the biotechnology company's stock.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded Anavex Life Sciences from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. HC Wainwright restated a "buy" rating and set a $42.00 price target on shares of Anavex Life Sciences in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $44.00.

Anavex Life Sciences Stock Up 4.6%

Shares of AVXL traded up $0.42 during trading hours on Wednesday, hitting $9.64. The company had a trading volume of 881,720 shares, compared to its average volume of 883,327. The firm has a market cap of $827.98 million, a P/E ratio of -16.91 and a beta of 0.83. The stock's 50 day moving average price is $10.53 and its 200 day moving average price is $9.26. Anavex Life Sciences has a 52-week low of $4.93 and a 52-week high of $14.44.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming purchased a new position in shares of Anavex Life Sciences during the 2nd quarter worth approximately $26,000. Tower Research Capital LLC TRC grew its holdings in shares of Anavex Life Sciences by 215.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,850 shares of the biotechnology company's stock worth $128,000 after acquiring an additional 9,463 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Anavex Life Sciences by 1.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 85,990 shares of the biotechnology company's stock worth $793,000 after acquiring an additional 1,233 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Anavex Life Sciences by 29.2% during the 2nd quarter. Raymond James Financial Inc. now owns 22,130 shares of the biotechnology company's stock worth $204,000 after acquiring an additional 5,000 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Anavex Life Sciences by 12.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,349 shares of the biotechnology company's stock worth $280,000 after acquiring an additional 3,274 shares during the period. 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.