Anavex Life Sciences (NASDAQ:AVXL) Shares Gap Up – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $10.74, but opened at $11.27. Anavex Life Sciences shares last traded at $11.70, with a volume of 1,089,714 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. HC Wainwright raised their price target on Anavex Life Sciences from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 26th. D. Boral Capital restated a “buy” rating and set a $46.00 price objective on shares of Anavex Life Sciences in a research note on Monday, December 23rd.

Anavex Life Sciences Trading Up 1.6 %

The firm has a market capitalization of $1.05 billion, a PE ratio of -24.70 and a beta of 0.73. The firm has a 50 day simple moving average of $8.89 and a 200 day simple moving average of $6.69.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Anavex Life Sciences by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company’s stock valued at $242,000 after buying an additional 1,191 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Anavex Life Sciences by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 2,401 shares during the period. Franklin Resources Inc. grew its stake in shares of Anavex Life Sciences by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock valued at $317,000 after purchasing an additional 3,674 shares during the period. Private Advisor Group LLC increased its position in shares of Anavex Life Sciences by 10.3% during 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 during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of 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 purchasing an additional 6,366 shares during the period. 31.55% of the stock is owned by hedge funds and other institutional investors.

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.