Anixa Biosciences Inc (NASDAQ:ANIX) Stock Has Average Target Price of $8.00

Anixa Biosciences Inc (NASDAQ:ANIX) has been assigned a consensus rating of “Hold” from the five brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $8.00.

Several brokerages have recently weighed in on ANIX. HC Wainwright reduced their price target on Anixa Biosciences from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. Citigroup restated a “buy” rating on shares of Anixa Biosciences in a report on Tuesday, October 6th. Weiss Ratings upgraded Anixa Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 17th. Wall Street Zen downgraded Anixa Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Finally, Zacks Research lowered Anixa Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th.

Anixa Biosciences Trading Down 0.3%

ANIX stock opened at $3.17 on Monday. The stock has a market cap of $110.20 million, a PE ratio of -9.91 and a beta of 0.47. Anixa Biosciences has a 12 month low of $2.32 and a 12 month high of $5.46. The company has a 50-day moving average price of $2.92 and a 200 day moving average price of $2.97.

Anixa Biosciences (NASDAQ:ANIX) last announced its quarterly earnings data on Wednesday, September 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Sell-side analysts forecast that Anixa Biosciences will post -0.31 EPS for the current year.

Insider Activity at Anixa Biosciences

In related news, Director Lewis Titterton, Jr. purchased 49,036 shares of Anixa Biosciences stock in a transaction that occurred on Wednesday, September 23rd. The shares were bought at an average price of $2.69 per share, with a total value of $131,906.84. Following the purchase, the director directly owned 1,046,003 shares of the company’s stock, valued at approximately $2,813,748.07. This represents a 4.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 105,536 shares of company stock valued at $291,587 in the last quarter. Corporate insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Anixa Biosciences

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Anixa Biosciences in the 2nd quarter worth about $559,000. AXQ Capital LP purchased a new position in shares of Anixa Biosciences during the second quarter worth approximately $41,000. Bank of New York Mellon Corp bought a new stake in shares of Anixa Biosciences during the second quarter valued at approximately $133,000. Corient Private Wealth LP bought a new stake in shares of Anixa Biosciences during the second quarter valued at approximately $105,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Anixa Biosciences during the second quarter valued at approximately $38,000. 29.13% of the stock is owned by hedge funds and other institutional investors.

Anixa Biosciences Company Profile

Anixa Biosciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies and vaccines for cancer and other serious diseases. The company’s programs are designed to use the immune system to identify and attack disease-associated targets.

Anixa’s oncology pipeline has included a chimeric antigen receptor T-cell (CAR-T) therapy targeting the follicle-stimulating hormone receptor, which is being investigated as a potential treatment for ovarian cancer and other cancers.