Anixa Biosciences (ANIX) Receives a Rating Update from a Top Analyst

By Jason Carr

H.C. Wainwright analyst Yi Chen reiterated a Buy rating on Anixa Biosciences (ANIXResearch Report) today and set a price target of $11.00. The company’s shares closed last Monday at $4.06.

According to TipRanks.com, Chen is a top 100 analyst with an average return of 61.9% and a 50.9% success rate. Chen covers the Healthcare sector, focusing on stocks such as Ortho Clinical Diagnostics Holdings, Interpace Diagnostics Group, and HTG Molecular Diagnostics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Anixa Biosciences with a $11.00 average price target.

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Based on Anixa Biosciences’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $512.5K and GAAP net loss of $2.21 million. In comparison, last year the company had a GAAP net loss of $2.59 million.

Based on the recent corporate insider activity of 12 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Anixa Biosciences, Inc. is a cancer-focused biotechnology company, which focuses on harnessing the body’s immune system in the fight against cancer. It operates through the following segments: Cancer Diagnostics, Cancer Therapeutics, and Legacy Patent Licensing Activities. Cancer Diagnostic segment develops CchekTM platform, a series of inexpensive non-invasive blood tests for the early detection of solid tumors, which is based on the body’s immune response to the presence of a malignancy. Cancer Therapeutics segment offers chimeric antigen receptor T-cell (CAR-T) based immuno-therapy drugs which genetically engineer a patient’s own immune cells to fight cancer. The company was founded on November 5, 1982 and is headquartered San Jose, CA.