Anavex Life Sciences (NASDAQ:AVXL) Trading Down 3.6% – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares dropped 3.6% on Monday . The company traded as low as $9.03 and last traded at $9.09. Approximately 326,039 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,236,520 shares. The stock had previously closed at $9.43.

Wall Street Analysts Forecast Growth

AVXL has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $42.00 target price on shares of Anavex Life Sciences in a research note on Tuesday, February 18th. D. Boral Capital reissued a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research note on Wednesday, February 12th.

Anavex Life Sciences Stock Performance

The stock has a market cap of $791.95 million, a PE ratio of -16.93 and a beta of 0.94. The company’s 50-day moving average price is $9.20 and its 200 day moving average price is $8.09.

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

Institutional Trading of Anavex Life Sciences

Institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in Anavex Life Sciences by 69.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,673 shares of the biotechnology company’s stock valued at $286,000 after purchasing an additional 10,925 shares during the last quarter. PVG Asset Management Corp increased its holdings in Anavex Life Sciences by 503.5% in the 4th quarter. PVG Asset Management Corp now owns 78,490 shares of the biotechnology company’s stock valued at $843,000 after purchasing an additional 65,485 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in Anavex Life Sciences in the 4th quarter valued at approximately $34,000. Squarepoint Ops LLC increased its holdings in Anavex Life Sciences by 304.9% in the 4th quarter. Squarepoint Ops LLC now owns 67,627 shares of the biotechnology company’s stock valued at $726,000 after purchasing an additional 50,924 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in Anavex Life Sciences by 31.0% in the 4th quarter. ProShare Advisors LLC now owns 25,147 shares of the biotechnology company’s stock valued at $270,000 after purchasing an additional 5,958 shares during the last quarter. Hedge funds and other institutional investors own 31.55% of the company’s stock.

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.