Anavex Life Sciences (NASDAQ:AVXL) Stock Price Down 7.6% – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares were down 7.6% during trading on Monday . The stock traded as low as $11.19 and last traded at $11.19. Approximately 994,620 shares changed hands during trading, a decline of 22% from the average daily volume of 1,275,475 shares. The stock had previously closed at $12.11.

Wall Street Analyst Weigh In

A number of research analysts have commented on AVXL shares. HC Wainwright lifted their price objective on shares of Anavex Life Sciences from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday. D. Boral Capital restated a “buy” rating and set a $46.00 price objective on shares of Anavex Life Sciences in a research report on Monday, December 23rd.

Anavex Life Sciences Trading Down 5.9 %

The business has a 50 day moving average price of $8.29 and a 200-day moving average price of $6.46. The firm has a market capitalization of $966.90 million, a PE ratio of -22.80 and a beta of 0.73.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. On average, equities research analysts forecast that Anavex Life Sciences Corp. will post -0.55 earnings per share for the current year.

Institutional Trading of Anavex Life Sciences

Large investors have recently bought and sold shares of the company. Orion Capital Management LLC increased its holdings in 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 in the last quarter. PVG Asset Management Corp acquired a new position in shares of Anavex Life Sciences in the third quarter worth $74,000. Atria Investments Inc acquired a new stake in shares of Anavex Life Sciences during the third quarter valued at $76,000. BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 7,421 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of 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 buying an additional 6,366 shares in the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

Anavex Life Sciences Company Profile

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.