Anavex Life Sciences (NASDAQ:AVXL) Shares Up 6.3% – Here’s Why

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s stock price rose 6.3% during mid-day trading on Tuesday . The company traded as high as $13.94 and last traded at $13.94. Approximately 1,141,135 shares traded hands during trading, a decline of 49% from the average daily volume of 2,249,582 shares. The stock had previously closed at $13.11.

Wall Street Analysts Forecast Growth

AVXL has been the subject of several recent analyst reports. D. Boral Capital reaffirmed a “buy” rating and set a $46.00 price objective on shares of Anavex Life Sciences in a research report on Monday, December 23rd. HC Wainwright lifted their target price on Anavex Life Sciences from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 26th.

Anavex Life Sciences Trading Up 7.3 %

The business has a 50-day moving average of $9.03 and a two-hundred day moving average of $6.79. The firm has a market cap of $1.19 billion, a P/E ratio of -28.14 and a beta of 0.70.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03. As a group, equities analysts expect that Anavex Life Sciences Corp. will post -0.55 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Orion Capital Management LLC grew its position in shares of Anavex Life Sciences by 666.7% during the 3rd quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 10,000 shares during the period. PVG Asset Management Corp purchased a new stake in Anavex Life Sciences in the third quarter worth $74,000. Atria Investments Inc purchased a new stake in Anavex Life Sciences in the third quarter worth $76,000. BNP Paribas Financial Markets lifted its position in shares of Anavex Life Sciences by 97.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company’s stock valued at $86,000 after buying an additional 7,421 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Anavex Life Sciences by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock worth $93,000 after acquiring an additional 6,366 shares during the period. Institutional investors and hedge funds 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.