Anavex Life Sciences (NASDAQ:AVXL) Trading Down 11.3% – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares traded down 11.3% during trading on Wednesday . The stock traded as low as $11.92 and last traded at $11.94. 957,544 shares traded hands during trading, a decline of 58% from the average session volume of 2,266,342 shares. The stock had previously closed at $13.46.

Analysts Set New Price Targets

Several brokerages recently weighed in on AVXL. D. Boral Capital restated a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a research note on Monday, December 23rd. HC Wainwright increased their price objective on shares of Anavex Life Sciences from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 26th.

Anavex Life Sciences Stock Down 13.4 %

The stock has a market cap of $988.11 million, a price-to-earnings ratio of -23.30 and a beta of 0.70. The stock’s 50 day moving average price is $9.19 and its two-hundred day moving average price is $6.86.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings data on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. On average, analysts predict that Anavex Life Sciences Corp. will post -0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AVXL. Nwam LLC purchased a new position in shares of Anavex Life Sciences during the third quarter worth approximately $5,172,000. Renaissance Technologies LLC grew its stake in shares of Anavex Life Sciences by 483.8% in the 2nd quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company’s stock valued at $1,968,000 after purchasing an additional 386,537 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of Anavex Life Sciences during the second quarter worth approximately $346,000. Barclays PLC grew its position in Anavex Life Sciences by 70.4% in the 3rd quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock valued at $882,000 after buying an additional 64,101 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Anavex Life Sciences by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock worth $10,699,000 after buying an additional 51,946 shares during the last quarter. 31.55% of the stock is currently owned by hedge funds and other institutional investors.

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.