Anavex Life Sciences' (AVXL) "Buy" Rating Reaffirmed at 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.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report)'s stock had its "buy" rating restated by investment analysts at D. Boral Capital in a report issued on Wednesday,Benzinga reports. They currently have a $46.00 target price on the biotechnology company's stock. D. Boral Capital's price objective suggests a potential upside of 382.69% from the stock's previous close.

A number of other brokerages also recently weighed in on AVXL. Wall Street Zen downgraded shares of Anavex Life Sciences from a "hold" rating to a "sell" rating in a research report on Saturday. HC Wainwright reissued a "buy" rating and set a $42.00 target price on shares of Anavex Life Sciences in a research note on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $44.00.

Anavex Life Sciences Stock Performance

Shares of Anavex Life Sciences stock opened at $9.53 on Wednesday. The firm has a 50-day simple moving average of $10.51 and a two-hundred day simple moving average of $9.24. The company has a market cap of $818.53 million, a P/E ratio of -16.72 and a beta of 0.80. 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 issued its quarterly earnings data 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). Equities research analysts forecast that Anavex Life Sciences will post -0.69 EPS for the current year.

Institutional Trading of Anavex Life Sciences

Hedge funds have recently made changes to their positions in the company. State of Wyoming acquired a new position in shares of Anavex Life Sciences in the 2nd quarter worth approximately $26,000. Tower Research Capital LLC TRC lifted its holdings in 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 buying an additional 9,463 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in 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 buying an additional 1,233 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in 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 buying an additional 5,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in 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 buying an additional 3,274 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.

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