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

HC Wainwright reaffirmed their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a report published on Monday, Benzinga reports. They currently have a $40.00 price objective on the biotechnology company’s stock.

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

Anavex Life Sciences Stock Up 6.8 %

Shares of NASDAQ AVXL opened at $7.30 on Monday. The company has a market capitalization of $619.04 million, a PE ratio of -14.60 and a beta of 0.60. The stock’s 50 day moving average price is $5.58 and its 200-day moving average price is $5.06. Anavex Life Sciences has a twelve month low of $3.25 and a twelve month high of $10.45.

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

Institutional Investors Weigh In On Anavex Life Sciences

Large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Anavex Life Sciences by 30.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,850 shares of the biotechnology company’s stock worth $279,000 after purchasing an additional 12,728 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Anavex Life Sciences by 10.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 74,400 shares of the biotechnology company’s stock worth $379,000 after buying an additional 6,800 shares during the last quarter. Nwam LLC raised its position in shares of Anavex Life Sciences by 4.8% during the 1st quarter. Nwam LLC now owns 836,730 shares of the biotechnology company’s stock valued at $4,259,000 after buying an additional 38,437 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Anavex Life Sciences by 675.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 804,642 shares of the biotechnology company’s stock worth $4,096,000 after acquiring an additional 700,812 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Anavex Life Sciences by 1.2% in the first quarter. Vanguard Group Inc. now owns 4,414,682 shares of the biotechnology company’s stock worth $22,471,000 after acquiring an additional 54,034 shares in the last quarter. Institutional investors 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.