Anavex Life Sciences (NASDAQ:AVXL) Earns Buy Rating from HC Wainwright

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $42.00 target price on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 340.71% from the stock’s previous close.

Separately, D. Boral Capital reissued a “buy” rating and set a $46.00 price target on shares of Anavex Life Sciences in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Anavex Life Sciences has an average rating of “Buy” and an average price target of $44.00.

Anavex Life Sciences Trading Down 0.2%

Shares of AVXL stock opened at $9.53 on Friday. The business’s 50-day moving average price is $10.48 and its 200-day moving average price is $9.22. Anavex Life Sciences has a 12 month low of $4.93 and a 12 month high of $14.44. The firm has a market capitalization of $818.53 million, a price-to-earnings ratio of -16.72 and a beta of 0.80.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). On average, sell-side analysts predict that Anavex Life Sciences will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Anavex Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in AVXL. Envestnet Asset Management Inc. lifted its stake in shares of Anavex Life Sciences by 54.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 59,066 shares of the biotechnology company’s stock worth $634,000 after acquiring an additional 20,771 shares during the period. Invesco Ltd. increased its holdings in Anavex Life Sciences by 2,419.8% in the fourth quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company’s stock worth $6,606,000 after purchasing an additional 590,639 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Anavex Life Sciences in the fourth quarter worth approximately $167,000. Marshall Wace LLP bought a new stake in Anavex Life Sciences in the fourth quarter worth approximately $1,516,000. Finally, MetLife Investment Management LLC increased its holdings in Anavex Life Sciences by 14.4% in the fourth quarter. MetLife Investment Management LLC now owns 46,177 shares of the biotechnology company’s stock worth $496,000 after purchasing an additional 5,816 shares in the last quarter. 31.55% of the stock is owned by institutional investors and hedge funds.

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.