Zacks Research Upgrades Anixa Biosciences (NASDAQ:ANIX) to Strong-Buy

Key Points

• Zacks Research upgraded Anixa Biosciences from a "hold" rating to a "strong-buy" rating, reflecting increased confidence in the company's prospects.
• Analysts have a range of ratings on Anixa, with one Strong Buy, three Buys, and one Sell, leading to an average rating of "Moderate Buy" and a target price of $9.00.
• Anixa's recent earnings report showed a loss per share of ($0.07), surpassing expectations, which may have influenced the positive ratings by analysts.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Anixa Biosciences in a report on Thursday, September 11th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Anixa Biosciences in a research note on Tuesday, October 14th. Finally, D. Boral Capital reiterated a "buy" rating and issued a $10.00 target price on shares of Anixa Biosciences in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Anixa Biosciences presently has an average rating of "Moderate Buy" and an average target price of $9.00.

Anixa Biosciences Stock Performance

Anixa Biosciences stock opened at $4.18 on Monday. Anixa Biosciences has a fifty-two week low of $2.07 and a fifty-two week high of $4.98. The stock has a market cap of $137.61 million, a PE ratio of -11.94 and a beta of 0.69. The firm's 50-day simple moving average is $3.42 and its 200 day simple moving average is $3.13.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last released its quarterly earnings results on Wednesday, September 10th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. As a group, analysts predict 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 the company's stock in a transaction on 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 completion of the purchase, the director directly owned 953,334 shares in the company, valued at $2,936,268.72. The trade was a 1.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 25.30% of the stock is currently owned by insiders.

Institutional Trading of Anixa Biosciences

A number of institutional investors have recently modified their holdings of ANIX. NewEdge Advisors LLC purchased a new stake in shares of Anixa Biosciences during the 2nd quarter valued at approximately $33,000. Private Advisor Group LLC purchased a new stake in shares of Anixa Biosciences during the 1st quarter valued at approximately $35,000. Benjamin Edwards Inc. purchased a new stake in shares of Anixa Biosciences during the 2nd quarter valued at approximately $37,000. Marshall Wace LLP purchased a new stake in shares of Anixa Biosciences during the 2nd quarter valued at approximately $39,000. Finally, World Investment Advisors purchased a new stake in shares of Anixa Biosciences during the 3rd quarter valued at approximately $48,000. 29.13% of the stock is currently owned by hedge funds and other institutional investors.

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.

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