Anavex Life Sciences’ (AVXL) “Buy” Rating Reaffirmed at D. Boral Capital

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reissued by D. Boral Capital in a report issued on Monday,Benzinga reports. They presently have a $46.00 price objective on the biotechnology company’s stock. D. Boral Capital’s target price would suggest a potential upside of 379.17% from the company’s previous close.

Separately, HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Anavex Life Sciences in a research note on Monday, November 4th.

Anavex Life Sciences Stock Performance

NASDAQ:AVXL opened at $9.60 on Monday. The stock has a 50-day simple moving average of $6.40 and a 200 day simple moving average of $5.55. Anavex Life Sciences has a one year low of $3.25 and a one year high of $10.45. The company has a market capitalization of $814.08 million, a price-to-earnings ratio of -19.38 and a beta of 0.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVXL. The Manufacturers Life Insurance Company raised its holdings in Anavex Life Sciences by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 2,401 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Anavex Life Sciences by 10.3% during the third quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company’s stock worth $269,000 after buying an additional 4,442 shares during the last quarter. Fiduciary Alliance LLC increased its holdings in Anavex Life Sciences by 45.2% in the 2nd quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 6,000 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Anavex Life Sciences by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock worth $93,000 after acquiring an additional 6,366 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Anavex Life Sciences by 97.0% during the third quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company’s stock worth $86,000 after purchasing an additional 7,421 shares during the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

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.