Anixa Biosciences (NASDAQ:ANIX) Receives Buy Rating from D. Boral Capital

Key Points

• D. Boral Capital has reaffirmed a "Buy" rating for Anixa Biosciences with a target price of $10.00, suggesting a potential upside of 193.69% from its current stock price.
• Anixa Biosciences stock recently increased by 3.2% to $3.41, with a one-year range between $2.07 and $4.20.
• Recently, insiders have purchased a total of 35,000 shares worth $110,700, indicating confidence in the company's future.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at D. Boral Capital in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $10.00 price objective on the stock. D. Boral Capital's price target indicates a potential upside of 186.53% from the company's previous close.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen raised shares of Anixa Biosciences from a "sell" rating to a "hold" rating in a report on Friday, June 6th. HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Anixa Biosciences in a research note on Thursday, September 11th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, Anixa Biosciences has an average rating of "Buy" and a consensus target price of $9.00.

Anixa Biosciences Stock Performance

NASDAQ ANIX traded up $0.19 during trading on Monday, reaching $3.49. 267,061 shares of the company traded hands, compared to its average volume of 115,150. Anixa Biosciences has a 1-year low of $2.07 and a 1-year high of $4.20. The company has a market cap of $114.89 million, a price-to-earnings ratio of -9.97 and a beta of 0.58. The stock's 50 day moving average price is $3.13 and its two-hundred day moving average price is $2.99.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last posted its earnings results on Wednesday, September 10th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. Equities research analysts expect that Anixa Biosciences will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lewis H. Titterton, Jr. bought 10,000 shares of Anixa Biosciences stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $3.08 per share, for a total transaction of $30,800.00. Following the completion of the acquisition, the director owned 953,334 shares in the company, valued at approximately $2,936,268.72. This represents a 1.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 35,000 shares of company stock valued at $110,700 over the last quarter. Corporate insiders own 25.30% of the company's stock.

Institutional Trading of Anixa Biosciences

A number of hedge funds have recently modified their holdings of ANIX. NewEdge Advisors LLC bought a new position in Anixa Biosciences during the 2nd quarter worth approximately $33,000. Millennium Management LLC acquired a new stake in Anixa Biosciences in the fourth quarter worth $26,000. Benjamin Edwards Inc. bought a new position in shares of Anixa Biosciences during the second quarter worth $37,000. Marshall Wace LLP acquired a new position in shares of Anixa Biosciences in the 2nd quarter valued at $39,000. Finally, Private Advisor Group LLC acquired a new position in shares of Anixa Biosciences in the 1st quarter valued at $35,000. 29.13% of the stock is currently owned by institutional investors and hedge funds.

Anixa Biosciences Company Profile

Anixa Biosciences, Inc, a biotechnology company, develops therapies and vaccines focusing on critical unmet needs in oncology and infectious diseases. The company's therapeutics programs include the development of a chimeric endocrine receptor T-cell therapy, a novel form of chimeric antigen receptor T-cell (CAR-T) technology focusing on the treatment of ovarian cancer.