Anixa Biosciences Inc (NASDAQ:ANIX) Stock Has Consensus Target Price of $8.00

Key Points

• Analysts have a consensus “Hold” rating on Anixa Biosciences, with three buys, one hold, and one sell; the average 12-month price target is $8.00.
• ANIX opened at $2.65, compared with a 52-week range of $2.32 to $5.46, and recently reported quarterly EPS of -$0.08, in line with estimates.
• Insiders purchased 105,724 shares worth approximately $303,920 over the last quarter, while insiders own 26.4% and institutional investors hold 29.13% of the company.

Shares of Anixa Biosciences Inc (NASDAQ:ANIX - Get Free Report) have been given an average recommendation of "Hold" by the five analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $8.00.

ANIX has been the subject of a number of research reports. HC Wainwright dropped their price target on Anixa Biosciences from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, September 22nd. Wall Street Zen raised Anixa Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Citigroup restated a "buy" rating on shares of Anixa Biosciences in a research report on Tuesday, October 6th. Weiss Ratings raised Anixa Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, September 17th. Finally, D. Boral Capital reaffirmed a "buy" rating and issued a $10.00 target price on shares of Anixa Biosciences in a report on Tuesday, June 30th.

Anixa Biosciences Price Performance

Shares of NASDAQ:ANIX opened at $2.65 on Thursday. The company has a market cap of $92.11 million, a price-to-earnings ratio of -8.28 and a beta of 0.47. The firm has a 50 day simple moving average of $3.07 and a 200 day simple moving average of $2.98. Anixa Biosciences has a one year low of $2.32 and a one year high of $5.46.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last issued its earnings results on Wednesday, September 9th. The company reported ($0.08) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.08). As a group, analysts expect that Anixa Biosciences will post -0.31 EPS for the current year.

Insider Activity at Anixa Biosciences

In other news, Director Lewis Titterton, Jr. purchased 49,036 shares of the business's stock in a transaction dated Wednesday, September 23rd. The shares were purchased at an average cost of $2.69 per share, with a total value of $131,906.84. Following the completion of the purchase, the director owned 1,046,003 shares of the company's stock, valued at $2,813,748.07. This trade represents a 4.92% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders bought 105,724 shares of company stock worth $303,920 over the last quarter. Company insiders own 26.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ANIX. Sanctuary Advisors LLC bought a new stake in Anixa Biosciences during the 2nd quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. acquired a new position in Anixa Biosciences in the 2nd quarter valued at approximately $29,000. Integrated Wealth Concepts LLC acquired a new position in Anixa Biosciences in the 2nd quarter valued at approximately $30,000. Simplicity Wealth LLC bought a new position in shares of Anixa Biosciences during the second quarter valued at $34,000. Finally, NewEdge Wealth LLC bought a new position in shares of Anixa Biosciences during the second quarter valued at $35,000. Institutional investors and hedge funds own 29.13% of the company's stock.

About Anixa Biosciences

Anixa Biosciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies and vaccines for cancer and infectious diseases. Rather than marketing a broad portfolio of commercial products, the company concentrates on advancing novel therapies through research collaborations and clinical development.

Anixa's cancer programs include a breast cancer vaccine intended to target alpha-lactalbumin, a protein associated with certain breast cancers. The program is being developed in collaboration with researchers at Cleveland Clinic.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.