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

D. Boral Capital reiterated their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a research note published on Monday,Benzinga reports. The brokerage currently has a $46.00 target price on the biotechnology company’s stock.

Separately, HC Wainwright raised their target price on shares of Anavex Life Sciences from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 26th.

Anavex Life Sciences Trading Down 6.1 %

Shares of NASDAQ AVXL opened at $10.55 on Monday. The stock has a market cap of $894.81 million, a price-to-earnings ratio of -21.10 and a beta of 0.70. Anavex Life Sciences has a 52 week low of $3.25 and a 52 week high of $14.44. The company’s 50-day moving average price is $9.55 and its 200 day moving average price is $7.06.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings data on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. As a group, research analysts expect that Anavex Life Sciences will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AVXL. Bank of New York Mellon Corp raised its stake in shares of Anavex Life Sciences by 17.1% during the second quarter. Bank of New York Mellon Corp now owns 280,556 shares of the biotechnology company’s stock valued at $1,184,000 after purchasing an additional 40,895 shares during the period. Rhumbline Advisers increased its stake in Anavex Life Sciences by 15.8% during the second quarter. Rhumbline Advisers now owns 119,289 shares of the biotechnology company’s stock valued at $503,000 after purchasing an additional 16,293 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Anavex Life Sciences by 483.8% during the second quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company’s stock valued at $1,968,000 after acquiring an additional 386,537 shares during the period. Marshall Wace LLP acquired a new position in shares of Anavex Life Sciences during the second quarter valued at $166,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Anavex Life Sciences during the second quarter valued at $191,000. 31.55% of the stock is owned by institutional investors and hedge funds.

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.