Wealth Enhancement Advisory Services LLC Boosts Holdings in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Wealth Enhancement Advisory Services LLC grew its stake in Anavex Life Sciences Corp. (NASDAQ:AVXL) by 69.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,673 shares of the biotechnology company’s stock after buying an additional 10,925 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Anavex Life Sciences were worth $286,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVXL. Gladstone Institutional Advisory LLC acquired a new stake in shares of Anavex Life Sciences in the fourth quarter worth $279,000. Rhumbline Advisers grew its position in Anavex Life Sciences by 2.9% during the fourth quarter. Rhumbline Advisers now owns 123,699 shares of the biotechnology company’s stock valued at $1,329,000 after buying an additional 3,498 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new stake in Anavex Life Sciences during the fourth quarter valued at $169,000. Opus Capital Group LLC grew its position in Anavex Life Sciences by 6.1% during the fourth quarter. Opus Capital Group LLC now owns 34,700 shares of the biotechnology company’s stock valued at $373,000 after buying an additional 2,000 shares during the period. Finally, D.A. Davidson & CO. acquired a new stake in Anavex Life Sciences during the fourth quarter valued at $122,000. Institutional investors and hedge funds own 31.55% of the company’s stock.

Anavex Life Sciences Price Performance

Shares of AVXL opened at $8.03 on Monday. Anavex Life Sciences Corp. has a 1-year low of $3.63 and a 1-year high of $14.44. The stock has a market cap of $685.54 million, a PE ratio of -14.60 and a beta of 0.68. The firm has a 50-day simple moving average of $8.42 and a two-hundred day simple moving average of $9.05.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. During the same quarter last year, the firm posted ($0.13) earnings per share. As a group, sell-side analysts expect that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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