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

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at D. Boral Capital in a research note issued to investors on Monday,Benzinga reports. They presently have a $46.00 price target on the biotechnology company's stock. D. Boral Capital's target price indicates a potential upside of 311.45% from the stock's previous close.

Separately, HC Wainwright reissued a "buy" rating and issued a $40.00 price target on shares of Anavex Life Sciences in a research note on Wednesday, November 27th.

Anavex Life Sciences Price Performance

Shares of AVXL traded up $2.55 during trading hours on Monday, hitting $11.18. 7,401,592 shares of the stock were exchanged, compared to its average volume of 1,243,473. Anavex Life Sciences has a fifty-two week low of $3.25 and a fifty-two week high of $11.50. The business has a 50-day moving average of $7.69 and a 200-day moving average of $6.19. The firm has a market capitalization of $948.02 million, a P/E ratio of -22.36 and a beta of 0.73.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last issued its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.03. As a group, analysts forecast that Anavex Life Sciences will post -0.55 earnings per share for the current fiscal year.

Institutional Trading of Anavex Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Anavex Life Sciences in the second quarter worth approximately $57,000. Bank of New York Mellon Corp lifted its holdings in shares of Anavex Life Sciences by 17.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 280,556 shares of the biotechnology company's stock worth $1,184,000 after purchasing an additional 40,895 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Anavex Life Sciences by 15.8% in the 2nd quarter. Rhumbline Advisers now owns 119,289 shares of the biotechnology company's stock worth $503,000 after purchasing an additional 16,293 shares in the last quarter. Renaissance Technologies LLC grew its position 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 purchasing an additional 386,537 shares during the period. Finally, Marshall Wace LLP bought a new stake in Anavex Life Sciences during the 2nd quarter valued at $166,000. 31.55% of the stock is owned by institutional investors.

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.