Anavex Life Sciences (NASDAQ:AVXL) Receives Buy Rating from D. Boral Capital

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reaffirmed by stock analysts at D. Boral Capital in a report released on Tuesday,Benzinga reports. They presently have a $24.00 price target on the biotechnology company’s stock.

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

Anavex Life Sciences Price Performance

NASDAQ AVXL opened at $3.00 on Tuesday. The company has a market cap of $277.55 million, a P/E ratio of -6.49 and a beta of 1.08. The stock has a 50-day moving average of $4.34 and a two-hundred day moving average of $5.54. Anavex Life Sciences has a 1-year low of $2.61 and a 1-year high of $13.99.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings results on Monday, February 9th. The biotechnology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. On average, analysts anticipate that Anavex Life Sciences will post -0.69 EPS for the current fiscal year.

Institutional Trading of Anavex Life Sciences

Institutional investors have recently added to or reduced their stakes in the stock. Sheets Smith Investment Management acquired a new position in Anavex Life Sciences in the third quarter worth approximately $1,210,000. October Effect Ltd grew its position in Anavex Life Sciences by 110.4% in the third quarter. October Effect Ltd now owns 245,221 shares of the biotechnology company’s stock worth $2,182,000 after acquiring an additional 128,675 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its holdings in Anavex Life Sciences by 7.5% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 40,478 shares of the biotechnology company’s stock worth $360,000 after purchasing an additional 2,815 shares during the last quarter. PVG Asset Management Corp raised its holdings in Anavex Life Sciences by 34.9% in the 2nd quarter. PVG Asset Management Corp now owns 111,445 shares of the biotechnology company’s stock worth $1,028,000 after acquiring an additional 28,837 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Anavex Life Sciences by 10.1% in the second quarter. Franklin Resources Inc. now owns 72,780 shares of the biotechnology company’s stock valued at $671,000 after acquiring an additional 6,662 shares during the period. 31.55% of the stock is owned by institutional investors and hedge funds.

About Anavex Life Sciences

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.