Anixa Biosciences Inc (ANIX) Receives a Buy from B.Riley FBR


B.Riley FBR analyst Andrew D’silva maintained a Buy rating on Anixa Biosciences Inc (ANIX) today and set a price target of $11.25. The company’s shares closed yesterday at $4.52.

D’silva noted:

“Several notable events have taken place since our last update on Anixa Biosciences, Inc. (ANIX). Most notably, ANIX (1) established a strategic alliance/license agreement for a novel breast cancer vaccine; (2) hosted a business update call on 7/18 where it discussed the agreement as well as progress with its other candidates; and (3) filed its 10-Q for F2Q19 (April quarter). While much of the value in ANIX shares is based on binary outcomes, we continue to view the risk/ reward favorably, particularly since the company has an extremely low burn rate for targeting high-value candidates—ANIX’s F2Q19 FCF was only $(1.6)M. Moreover, we continue to believe forging potential partnerships and advancing its product pipeline are likely and positions the enterprise for growth/share price appreciation.”

According to TipRanks.com, D’silva is a 4-star analyst with an average return of 6.6% and a 42.0% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cumberland Pharmaceuticals Inc, EyePoint Pharmaceuticals Inc, and Sensus Healthcare Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Anixa Biosciences Inc with a $11.25 average price target.

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The company has a one-year high of $6.86 and a one-year low of $3.10. Currently, Anixa Biosciences Inc has an average volume of 78.63K.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ANIX in relation to earlier this year.

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Anixa Biosciences, Inc. a cancer-focused biotechnology company, is harnessing the body’s immune system in the fight against cancer. Anixa is developing both diagnostics and therapeutics to detect cancer early, when it is most curable, and to treat those afflicted once diagnosed.

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