Anavex Life Sciences’ (AVXL) “Buy” Rating Reaffirmed at HC Wainwright

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They currently have a $40.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 419.48% from the stock’s current price.

Separately, EF Hutton Acquisition Co. I raised shares of Anavex Life Sciences to a “strong-buy” rating in a report on Monday, July 22nd.

Anavex Life Sciences Stock Up 5.5 %

Shares of NASDAQ AVXL opened at $7.70 on Monday. Anavex Life Sciences has a 52 week low of $3.25 and a 52 week high of $10.45. The business’s 50 day moving average price is $5.60 and its 200 day moving average price is $5.08. The firm has a market cap of $652.93 million, a P/E ratio of -15.40 and a beta of 0.60.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. During the same quarter in the previous year, the company earned ($0.14) earnings per share. As a group, research analysts expect that Anavex Life Sciences will post -0.55 earnings per share for the current year.

Institutional Investors Weigh In On Anavex Life Sciences

Several hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its holdings in shares of Anavex Life Sciences by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock valued at $129,000 after purchasing an additional 2,401 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Anavex Life Sciences by 10.3% in the 3rd quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company’s stock valued at $269,000 after purchasing an additional 4,442 shares in the last quarter. Fiduciary Alliance LLC raised its holdings in Anavex Life Sciences by 45.2% in the 2nd quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 6,000 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Anavex Life Sciences by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock worth $93,000 after purchasing an additional 6,366 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Anavex Life Sciences by 10.1% in the first quarter. Geneos Wealth Management Inc. now owns 74,400 shares of the biotechnology company’s stock valued at $379,000 after purchasing an additional 6,800 shares during the period. 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.