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

Key Points

• Anavex Life Sciences' stock received a reaffirmed "Buy" rating from D. Boral Capital, with a target price of $46.00, suggesting a potential upside of 416.85% from its previous close.
• Despite the positive rating from D. Boral Capital, Wall Street Zen downgraded the stock from a "hold" to a "sell" rating recently, indicating mixed analyst opinions.
• The stock price of Anavex Life Sciences has fluctuated between a 52-week low of $5.03 and a high of $14.44, recently trading at approximately $8.90.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at D. Boral Capital in a research note issued on Wednesday,Benzinga reports. They currently have a $46.00 price objective on the biotechnology company's stock. D. Boral Capital's target price would suggest a potential upside of 416.85% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut Anavex Life Sciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 23rd. HC Wainwright reissued a "buy" rating and set a $42.00 price target on shares of Anavex Life Sciences in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $44.00.

Anavex Life Sciences Stock Up 2.9%

Shares of AVXL stock opened at $8.90 on Wednesday. The stock has a market cap of $764.46 million, a price-to-earnings ratio of -15.61 and a beta of 0.83. Anavex Life Sciences has a fifty-two week low of $5.03 and a fifty-two week high of $14.44. The firm's 50 day moving average price is $9.94 and its two-hundred day moving average price is $9.33.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last posted its 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). On average, equities analysts forecast that Anavex Life Sciences will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Anavex Life Sciences

A number of institutional investors have recently made changes to their positions in the business. LPL Financial LLC raised its stake in shares of Anavex Life Sciences by 482.1% in the 1st quarter. LPL Financial LLC now owns 546,626 shares of the biotechnology company's stock valued at $4,690,000 after purchasing an additional 452,723 shares in the last quarter. Invesco Ltd. raised its stake in Anavex Life Sciences by 55.8% during the second quarter. Invesco Ltd. now owns 863,959 shares of the biotechnology company's stock valued at $7,966,000 after buying an additional 309,605 shares in the last quarter. Vanguard Group Inc. raised its stake in Anavex Life Sciences by 4.7% during the first quarter. Vanguard Group Inc. now owns 4,902,246 shares of the biotechnology company's stock valued at $42,061,000 after buying an additional 221,802 shares in the last quarter. Nuveen LLC acquired a new stake in Anavex Life Sciences during the first quarter valued at approximately $1,622,000. Finally, Private Advisor Group LLC raised its stake in Anavex Life Sciences by 617.5% during the first quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company's stock valued at $1,842,000 after buying an additional 184,800 shares in the last quarter. 31.55% of the stock is owned by institutional investors and hedge funds.

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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