Envestnet Asset Management Inc. Purchases 20,771 Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL)

Envestnet Asset Management Inc. grew its position in Anavex Life Sciences Corp. (NASDAQ:AVXL) by 54.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,066 shares of the biotechnology company’s stock after purchasing an additional 20,771 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Anavex Life Sciences worth $634,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of AVXL. Barclays PLC lifted its stake 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 acquiring an additional 64,101 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Anavex Life Sciences in the fourth quarter valued at approximately $243,000. Wellington Management Group LLP bought a new stake in shares of Anavex Life Sciences in the fourth quarter worth $1,704,000. Heartland Advisors Inc. bought a new stake in shares of Anavex Life Sciences in the fourth quarter worth $1,674,000. Finally, Virtu Financial LLC acquired a new position in Anavex Life Sciences during the fourth quarter worth $967,000. 31.55% of the stock is owned by institutional investors and hedge funds.

Anavex Life Sciences Trading Up 0.5 %

NASDAQ AVXL opened at $9.36 on Friday. Anavex Life Sciences Corp. has a 12 month low of $3.51 and a 12 month high of $14.44. The stock has a 50 day moving average of $8.90 and a 200-day moving average of $8.91. The company has a market cap of $799.08 million, a PE ratio of -17.02 and a beta of 0.82.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. As a group, sell-side analysts predict that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on AVXL. D. Boral Capital reiterated a “buy” rating and issued a $46.00 price target on shares of Anavex Life Sciences in a research note on Monday, April 7th. HC Wainwright reaffirmed a “buy” rating and issued a $42.00 target price on shares of Anavex Life Sciences in a research report on Monday, April 7th.

Anavex Life Sciences 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.