Anavex Life Sciences (NASDAQ:AVXL) Trading Up 6.3% – Should You Buy?

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s stock price rose 6.3% on Tuesday . The company traded as high as $13.94 and last traded at $13.94. Approximately 1,141,135 shares traded hands during trading, a decline of 49% from the average daily volume of 2,249,582 shares. The stock had previously closed at $13.11.

Analyst Upgrades and Downgrades

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

Anavex Life Sciences Trading Down 15.1 %

The company has a market cap of $969.45 million, a P/E ratio of -22.86 and a beta of 0.70. The company has a 50 day moving average price of $9.30 and a 200-day moving average price of $6.89.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AVXL. JPMorgan Chase & Co. increased its position in Anavex Life Sciences by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company’s stock valued at $242,000 after acquiring an additional 1,191 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Anavex Life Sciences by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 2,401 shares during the last quarter. Franklin Resources Inc. raised its position in Anavex Life Sciences by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock worth $317,000 after purchasing an additional 3,674 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Anavex Life Sciences by 10.3% during the 3rd quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company’s stock worth $269,000 after buying an additional 4,442 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Anavex Life Sciences by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock valued at $93,000 after buying an additional 6,366 shares during the last quarter. 31.55% of the stock is currently owned by institutional investors and hedge funds.

About Anavex Life Sciences

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.