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

Key Points

• Anixa Biosciences' stock received a "buy" rating from D. Boral Capital, with a price target of $10.00, indicating a potential upside of 206.75% from its current price.
• The company's stock rose by 8.3% recently, and its average rating among analysts is "Buy" with a target price of $9.00.
• Insiders have shown confidence in the company, with significant purchases made by both Director Lewis H. Titterton, Jr. and CEO Amit Kumar, increasing their holdings in Anixa Biosciences.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report)'s stock had its "buy" rating restated by D. Boral Capital in a research note issued on Tuesday,Benzinga reports. They presently have a $10.00 price objective on the stock. D. Boral Capital's price target suggests a potential upside of 206.75% from the company's current price.

Separately, Wall Street Zen raised shares of Anixa Biosciences from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $9.00.

Anixa Biosciences Stock Up 8.3%

ANIX opened at $3.26 on Tuesday. The firm has a market cap of $105.00 million, a P/E ratio of -8.58 and a beta of 0.43. The business's fifty day simple moving average is $3.21 and its 200 day simple moving average is $2.96. Anixa Biosciences has a 52 week low of $2.07 and a 52 week high of $4.20.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. As a group, equities analysts expect that Anixa Biosciences will post -0.41 EPS for the current fiscal year.

Insider Activity

In other Anixa Biosciences news, Director Lewis H. Titterton, Jr. purchased 10,000 shares of the stock in a transaction on Thursday, July 31st. The stock was bought at an average price of $3.08 per share, for a total transaction of $30,800.00. Following the acquisition, the director directly owned 953,334 shares of the company's stock, valued at $2,936,268.72. This represents a 1.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Amit Kumar acquired 10,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were bought at an average cost of $2.85 per share, with a total value of $28,500.00. Following the purchase, the chief executive officer owned 569,925 shares in the company, valued at approximately $1,624,286.25. The trade was a 1.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 45,000 shares of company stock worth $139,200 over the last quarter. 25.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Anixa Biosciences

A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in shares of Anixa Biosciences during the 4th quarter valued at $26,000. Renaissance Technologies LLC boosted its holdings in Anixa Biosciences by 36.5% in the fourth quarter. Renaissance Technologies LLC now owns 14,573 shares of the company's stock valued at $34,000 after acquiring an additional 3,900 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Anixa Biosciences during the first quarter valued at about $35,000. Jane Street Group LLC acquired a new stake in Anixa Biosciences during the fourth quarter worth about $67,000. Finally, LPL Financial LLC raised its holdings in shares of Anixa Biosciences by 37.2% in the 4th quarter. LPL Financial LLC now owns 42,937 shares of the company's stock worth $100,000 after purchasing an additional 11,633 shares during the period. Hedge funds and other institutional investors own 29.13% of the company's stock.

About Anixa Biosciences

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.

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