Anavex Life Sciences (NASDAQ:AVXL) Earns “Buy” Rating from D. Boral Capital

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reissued by investment analysts at D. Boral Capital in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $46.00 price objective on the biotechnology company’s stock. D. Boral Capital’s price objective indicates a potential upside of 368.43% from the company’s current price.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $42.00 price target on shares of Anavex Life Sciences in a report on Tuesday, January 21st.

Anavex Life Sciences Trading Down 6.4 %

NASDAQ AVXL opened at $9.82 on Tuesday. The company has a market cap of $832.93 million, a price-to-earnings ratio of -18.88 and a beta of 0.70. The company has a 50 day moving average of $9.92 and a 200-day moving average of $7.46. Anavex Life Sciences has a 1-year low of $3.25 and a 1-year high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings data on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.03. On average, equities research analysts forecast that Anavex Life Sciences will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Anavex Life Sciences

Hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its holdings in shares of Anavex Life Sciences by 70.4% during the third quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock worth $882,000 after buying an additional 64,101 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Anavex Life Sciences by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company’s stock valued at $3,783,000 after buying an additional 14,892 shares during the period. Renaissance Technologies LLC raised its holdings in Anavex Life Sciences by 483.8% in the 2nd quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company’s stock valued at $1,968,000 after buying an additional 386,537 shares during the last quarter. Franklin Resources Inc. boosted its position in Anavex Life Sciences by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock worth $317,000 after buying an additional 3,674 shares during the period. Finally, Nwam LLC bought a new stake in Anavex Life Sciences during the 3rd quarter worth approximately $5,172,000. 31.55% of the stock is currently owned by institutional investors and hedge funds.

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.