Anavex Life Sciences (NASDAQ:AVXL) Stock Passes Above 50-Day Moving Average – Here’s Why

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $4.07 and traded as high as $5.32. Anavex Life Sciences shares last traded at $5.26, with a volume of 1,229,354 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AVXL shares. D. Boral Capital reaffirmed a “buy” rating and set a $24.00 price target on shares of Anavex Life Sciences in a report on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Anavex Life Sciences in a research report on Monday, December 29th. Jones Trading cut Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, October 24th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Anavex Life Sciences in a research note on Friday, December 19th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.00.

Anavex Life Sciences Price Performance

The company has a market capitalization of $469.98 million, a price-to-earnings ratio of -9.74 and a beta of 1.17. The firm’s 50-day simple moving average is $4.07 and its two-hundred day simple moving average is $7.60.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings results on Tuesday, November 25th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. During the same quarter last year, the company earned ($0.14) EPS. On average, analysts expect that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Institutional Trading of Anavex Life Sciences

Large investors have recently bought and sold shares of the company. Delta Asset Management LLC TN raised its stake in shares of Anavex Life Sciences by 9.1% during the 2nd quarter. Delta Asset Management LLC TN now owns 12,000 shares of the biotechnology company’s stock worth $111,000 after buying an additional 1,000 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Anavex Life Sciences by 1.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 85,990 shares of the biotechnology company’s stock valued at $793,000 after acquiring an additional 1,233 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in 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 valued at $79,000 after acquiring an additional 1,559 shares in the last quarter. BNC Wealth Management LLC raised its position in Anavex Life Sciences by 19.5% during the fourth quarter. BNC Wealth Management LLC now owns 12,250 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Independent Advisor Alliance lifted its holdings in shares of Anavex Life Sciences by 5.7% in the third quarter. Independent Advisor Alliance now owns 47,799 shares of the biotechnology company’s stock valued at $425,000 after purchasing an additional 2,593 shares in the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.