Anavex Life Sciences (NASDAQ:AVXL) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a report published on Monday morning, Benzinga reports. They currently have a $40.00 target price on the biotechnology company’s stock.

Separately, EF Hutton Acquisition Co. I raised Anavex Life Sciences to a “strong-buy” rating in a research note on Monday, July 22nd.

Anavex Life Sciences Stock Performance

Anavex Life Sciences stock opened at $7.30 on Monday. Anavex Life Sciences has a 52 week low of $3.25 and a 52 week high of $10.45. The firm has a market cap of $619.04 million, a P/E ratio of -14.60 and a beta of 0.60. The business’s fifty day moving average is $5.58 and its two-hundred day moving average is $5.06.

Anavex Life Sciences (NASDAQ:AVXL) last released its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. During the same period last year, the firm earned ($0.14) earnings per share. On average, equities research analysts predict that Anavex Life Sciences will post -0.55 earnings per share for the current year.

Institutional Investors Weigh In On Anavex Life Sciences

Several large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of Anavex Life Sciences in the second quarter valued at approximately $57,000. Atria Investments Inc acquired a new stake in Anavex Life Sciences during the 3rd quarter valued at $76,000. Fiduciary Alliance LLC boosted its position in Anavex Life Sciences by 45.2% during the second quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 6,000 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Anavex Life Sciences by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock valued at $93,000 after purchasing an additional 6,366 shares during the last quarter. Finally, EntryPoint Capital LLC raised its position in shares of Anavex Life Sciences by 371.1% in the first quarter. EntryPoint Capital LLC now owns 20,007 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 15,760 shares during the period. 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.