Anavex Life Sciences (NASDAQ:AVXL) Earns “Buy” Rating from HC Wainwright

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $42.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 327.70% from the stock’s current price.

Separately, D. Boral Capital reiterated a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research note on Tuesday.

Anavex Life Sciences Stock Down 6.4 %

Anavex Life Sciences stock opened at $9.82 on Tuesday. Anavex Life Sciences has a 12 month low of $3.25 and a 12 month high of $14.44. The company’s fifty day simple moving average is $9.92 and its 200-day simple moving average is $7.46. The stock has a market cap of $832.93 million, a P/E ratio of -18.88 and a beta of 0.70.

Anavex Life Sciences (NASDAQ:AVXL) last issued its earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. On average, equities research analysts expect that Anavex Life Sciences will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Anavex Life Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Orion Capital Management LLC raised its stake in shares of Anavex Life Sciences by 666.7% in 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 in the last quarter. PVG Asset Management Corp bought a new position in shares of Anavex Life Sciences in the third quarter valued at approximately $74,000. Atria Investments Inc acquired a new stake in shares of Anavex Life Sciences in the third quarter worth $76,000. BNP Paribas Financial Markets grew its stake in Anavex Life Sciences by 97.0% in 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. raised its holdings in Anavex Life Sciences by 64.0% in 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.