Anavex Life Sciences' (AVXL) "Buy" Rating Reaffirmed at D. Boral Capital

Key Points

• D. Boral Capital has reaffirmed a "Buy" rating for Anavex Life Sciences, setting a price target of $46.00, which indicates a potential upside of 348.34% from the previous close.
• Despite D. Boral's positive outlook, analysts from Wall Street Zen downgraded Anavex from a "hold" to a "sell" rating, while HC Wainwright maintained a "buy" with a price target of $42.00.
• Anavex Life Sciences' stock trades at approximately $10.26 with a market capitalization of $881.23 million and a twelve-month low of $4.93, signaling recent trading momentum.

D. Boral Capital reaffirmed their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL - Free Report) in a research report released on Wednesday,Benzinga reports. D. Boral Capital currently has a $46.00 price target on the biotechnology company's stock.

Other analysts have also recently issued reports about the company. Wall Street Zen cut Anavex Life Sciences from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. HC Wainwright reissued a "buy" rating and issued a $42.00 price target on shares of Anavex Life Sciences in a report on Friday, August 22nd. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $44.00.

Anavex Life Sciences Trading Down 2.2%

Shares of Anavex Life Sciences stock traded down $0.21 during trading hours on Wednesday, hitting $9.37. 714,428 shares of the company were exchanged, compared to its average volume of 951,523. Anavex Life Sciences has a 1 year low of $5.03 and a 1 year high of $14.44. The business has a 50-day moving average of $10.47 and a 200-day moving average of $9.33. The stock has a market capitalization of $804.79 million, a price-to-earnings ratio of -16.44 and a beta of 0.83.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). As a group, research analysts anticipate that Anavex Life Sciences will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Anavex Life Sciences

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position 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 worth $42,061,000 after buying an additional 221,802 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Anavex Life Sciences by 617.5% in the first quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company's stock valued at $1,842,000 after purchasing an additional 184,800 shares during the period. Swiss National Bank purchased a new stake in shares of Anavex Life Sciences in the first quarter valued at $1,411,000. Arizona State Retirement System purchased a new stake in shares of Anavex Life Sciences in the first quarter valued at $208,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Anavex Life Sciences by 197.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 248,139 shares of the biotechnology company's stock valued at $2,129,000 after purchasing an additional 164,792 shares during the period. Hedge funds and other institutional investors own 31.55% of the company's stock.

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.