D. Boral Capital Reiterates Buy Rating for Anavex Life Sciences (NASDAQ:AVXL)

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating restated by equities research analysts at D. Boral Capital in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $24.00 target price on the biotechnology company’s stock. D. Boral Capital’s price objective indicates a potential upside of 434.52% from the company’s previous close.

Several other research firms have also recently commented on AVXL. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Anavex Life Sciences in a report on Tuesday, February 10th. Wall Street Zen upgraded Anavex Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Anavex Life Sciences in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Anavex Life Sciences presently has a consensus rating of “Hold” and an average price target of $22.00.

Anavex Life Sciences Price Performance

NASDAQ:AVXL traded up $0.43 during trading hours on Monday, reaching $4.49. 525,056 shares of the company traded hands, compared to its average volume of 1,294,182. The stock has a market cap of $416.09 million, a P/E ratio of -9.75 and a beta of 1.08. The firm’s 50-day moving average is $4.52 and its 200-day moving average is $5.80. Anavex Life Sciences has a 1-year low of $2.86 and a 1-year high of $13.99.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Monday, February 9th. The biotechnology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. As a group, research analysts predict that Anavex Life Sciences will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On Anavex Life Sciences

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming bought a new stake in shares of Anavex Life Sciences in the second quarter worth $26,000. AlphaQuest LLC acquired a new position in Anavex Life Sciences during the 3rd quarter worth $29,000. Quarry LP bought a new stake in shares of Anavex Life Sciences in the 3rd quarter worth about $36,000. HBW Advisory Services LLC acquired a new stake in shares of Anavex Life Sciences in the 4th quarter valued at about $40,000. Finally, BNC Wealth Management LLC lifted its position in shares of Anavex Life Sciences by 19.5% during the fourth quarter. BNC Wealth Management LLC now owns 12,250 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 2,000 shares during the last quarter. 31.55% of the stock is currently owned by hedge funds and other institutional investors.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.