Anavex Life Sciences (NASDAQ:AVXL) Issues Quarterly Earnings Results, Hits Estimates

Anavex Life Sciences (NASDAQ:AVXL) released its earnings results on Wednesday. The biotechnology company reported ($0.15) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.15), Yahoo Finance reports. During the same period last year, the business earned ($0.10) earnings per share.

Shares of Anavex Life Sciences stock traded up $1.02 during trading on Thursday, reaching $18.99. The company’s stock had a trading volume of 1,391,200 shares, compared to its average volume of 2,249,869. The business’s fifty day moving average price is $19.02 and its 200-day moving average price is $18.77. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -39.56 and a beta of 0.68. Anavex Life Sciences has a one year low of $4.51 and a one year high of $31.50.

Several equities research analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $39.00 price target on shares of Anavex Life Sciences in a research note on Thursday, October 14th. Zacks Investment Research raised Anavex Life Sciences from a “sell” rating to a “hold” rating in a research note on Wednesday, October 13th. Finally, BTIG Research restated a “buy” rating and set a $34.00 target price on shares of Anavex Life Sciences in a report on Thursday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $29.89.

A number of institutional investors and hedge funds have recently modified their holdings of AVXL. Morgan Stanley lifted its position in shares of Anavex Life Sciences by 218.3% in the 2nd quarter. Morgan Stanley now owns 271,673 shares of the biotechnology company’s stock worth $6,211,000 after acquiring an additional 186,329 shares during the period. UBS Group AG grew its position in Anavex Life Sciences by 2,688.8% in the third quarter. UBS Group AG now owns 179,013 shares of the biotechnology company’s stock valued at $3,213,000 after acquiring an additional 172,594 shares during the period. Millennium Management LLC boosted its stake in Anavex Life Sciences by 28.7% in the third quarter. Millennium Management LLC now owns 127,359 shares of the biotechnology company’s stock valued at $2,286,000 after acquiring an additional 28,391 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Anavex Life Sciences by 58.7% in the second quarter. Wells Fargo & Company MN now owns 90,901 shares of the biotechnology company’s stock worth $2,078,000 after purchasing an additional 33,617 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of Anavex Life Sciences by 75.7% during the third quarter. LPL Financial LLC now owns 20,688 shares of the biotechnology company’s stock worth $371,000 after acquiring an additional 8,913 shares during the period. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound, ANAVEX2-73, is being developed to treat Alzheimer’s and Parkinson’s disease and central nervous system diseases, including Rett syndrome.

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Earnings History for Anavex Life Sciences (NASDAQ:AVXL)

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