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 analysts at D. Boral Capital in a note issued to investors on Tuesday,Benzinga reports. They currently have a $10.00 target price on the stock. D. Boral Capital's price target points to a potential upside of 235.57% from the stock's current price.

Separately, Wall Street Zen raised Anixa Biosciences from a "sell" rating to a "hold" rating in a report on Friday, June 6th.

Anixa Biosciences Trading Down 1.0%

ANIX traded down $0.03 during trading on Tuesday, hitting $2.98. The company's stock had a trading volume of 165,214 shares, compared to its average volume of 107,546. Anixa Biosciences has a twelve month low of $2.07 and a twelve month high of $4.20. The business's fifty day simple moving average is $3.25 and its 200 day simple moving average is $2.97. The firm has a market capitalization of $95.99 million, a price-to-earnings ratio of -7.84 and a beta of 0.43.

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

Insider Activity at Anixa Biosciences

In other news, CEO Amit Kumar purchased 10,000 shares of Anixa Biosciences stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average price of $2.85 per share, with a total value of $28,500.00. Following the transaction, the chief executive officer owned 569,925 shares in the company, valued at $1,624,286.25. This represents a 1.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lewis H. Titterton, Jr. purchased 10,000 shares of Anixa Biosciences stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $3.08 per share, for a total transaction of $30,800.00. Following the transaction, the director owned 953,334 shares in the company, valued at approximately $2,936,268.72. This trade represents a 1.06% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 45,000 shares of company stock worth $139,200. Insiders own 25.30% of the company's stock.

Hedge Funds Weigh In On Anixa Biosciences

Several large investors have recently made changes to their positions in ANIX. Private Advisor Group LLC acquired a new position in shares of Anixa Biosciences in the first quarter valued at approximately $35,000. Millennium Management LLC acquired a new position in shares of Anixa Biosciences in the fourth quarter valued at approximately $26,000. Focus Partners Wealth acquired a new position in shares of Anixa Biosciences in the fourth quarter valued at approximately $162,000. Jane Street Group LLC acquired a new stake in Anixa Biosciences in the fourth quarter valued at approximately $67,000. Finally, Renaissance Technologies LLC raised 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 in the last quarter. 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.