HC Wainwright Reiterates “Buy” Rating for Anavex Life Sciences (NASDAQ:AVXL)

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $42.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 338.41% from the company’s current price.

Several other research analysts also recently weighed in on the stock. D. Boral Capital reissued a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research report on Wednesday. Wall Street Zen lowered shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 23rd. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $44.00.

Anavex Life Sciences Stock Up 7.9%

Shares of NASDAQ AVXL opened at $9.58 on Wednesday. The stock’s fifty day simple moving average is $10.50 and its 200 day simple moving average is $9.31. The stock has a market capitalization of $822.83 million, a price-to-earnings ratio of -16.81 and a beta of 0.83. Anavex Life Sciences has a 52-week low of $5.03 and a 52-week high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). As a group, analysts anticipate that Anavex Life Sciences will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Anavex Life Sciences

Several institutional investors have recently made changes to their positions in the company. State of Wyoming bought a new stake in shares of Anavex Life Sciences in the 2nd quarter valued at approximately $26,000. Vermillion Wealth Management Inc. bought a new stake in Anavex Life Sciences in the fourth quarter worth approximately $34,000. Tower Research Capital LLC TRC increased its stake in shares of Anavex Life Sciences by 102.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 1,708 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Anavex Life Sciences by 470.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 4,879 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 4,023 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Anavex Life Sciences by 22.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,535 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 1,559 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.