Zacks Investment Research Downgrades ITUS (NYSE:ANIX) to Hold

ITUS (NYSE:ANIX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Anixa Biosciences, Inc. operates as a bio-technology company. It develops diagnostics and therapeutics to detect cancer. Anixa Biosciences Inc., formerly known as ITUS Corporation, is based in San Jose, United States. “

A number of other equities research analysts have also issued reports on the company. B. Riley dropped their price target on ITUS from $11.25 to $8.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Aegis assumed coverage on ITUS in a research report on Monday. They issued a “buy” rating and a $8.50 price target for the company.

Shares of ANIX stock traded up $0.03 during trading hours on Tuesday, reaching $1.63. The company had a trading volume of 64,500 shares, compared to its average volume of 71,785. The stock has a fifty day moving average of $2.79 and a 200-day moving average of $3.45. ITUS has a 12-month low of $1.50 and a 12-month high of $5.45.

ITUS (NYSE:ANIX) last posted its quarterly earnings results on Monday, March 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13).

In other ITUS news, Director Arnold M. Baskies acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $3.74 per share, for a total transaction of $37,400.00. Following the completion of the acquisition, the director now owns 21,000 shares of the company’s stock, valued at approximately $78,540. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amit Kumar acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was acquired at an average price of $2.99 per share, for a total transaction of $59,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 194,000 shares of the company’s stock, valued at approximately $580,060. The disclosure for this purchase can be found here. Insiders purchased 43,199 shares of company stock worth $133,914 over the last quarter.

About ITUS

Anixa Biosciences, Inc engages in the development, acquisition and licensing emerging technology in the field of biotechnology. It focuses on platform called Cchek, a series of inexpensive non-invasive blood tests for the early detection of cancer, which is based on the body’s immunological response to the presence of a malignancy.

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