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

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at D. Boral Capital in a note issued to investors on Monday,Benzinga reports. They currently have a $46.00 price target on the biotechnology company's stock. D. Boral Capital's price objective suggests a potential upside of 403.83% from the company's current price.

Separately, HC Wainwright reiterated a "buy" rating and set a $40.00 target price on shares of Anavex Life Sciences in a research report on Monday, November 4th.

Anavex Life Sciences Price Performance

NASDAQ:AVXL traded up $0.02 during trading hours on Monday, hitting $9.13. The stock had a trading volume of 1,700,620 shares, compared to its average volume of 1,200,329. The firm has a market capitalization of $774.22 million, a price-to-earnings ratio of -19.38 and a beta of 0.60. Anavex Life Sciences has a one year low of $3.25 and a one year high of $10.45. The company has a 50 day simple moving average of $6.40 and a two-hundred day simple moving average of $5.55.

Hedge Funds Weigh In On Anavex Life Sciences

A number of large investors have recently added to or reduced their stakes in AVXL. Vanguard Group Inc. increased its stake in shares of Anavex Life Sciences by 1.2% in the first quarter. Vanguard Group Inc. now owns 4,414,682 shares of the biotechnology company's stock worth $22,471,000 after buying an additional 54,034 shares during the period. Geode Capital Management LLC lifted its stake in shares of Anavex Life Sciences by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company's stock valued at $10,699,000 after purchasing an additional 51,946 shares during the period. Nwam LLC bought a new stake in shares of Anavex Life Sciences during the 3rd quarter valued at $5,172,000. Charles Schwab Investment Management Inc. boosted its stake in Anavex Life Sciences by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company's stock worth $3,783,000 after acquiring an additional 14,892 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Anavex Life Sciences by 483.8% in the 2nd quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company's stock worth $1,968,000 after purchasing an additional 386,537 shares in the last quarter. Hedge funds and other institutional investors own 31.55% of the company's stock.

About Anavex Life Sciences

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.