Anavex Life Sciences’ (AVXL) Buy Rating Reiterated at HC Wainwright

Anavex Life Sciences (NASDAQ:AVXLGet Free Report)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report released on Tuesday, Benzinga reports. They presently have a $40.00 target price on the biotechnology company’s stock.

Anavex Life Sciences Trading Down 2.1 %

Shares of NASDAQ AVXL opened at $3.79 on Tuesday. Anavex Life Sciences has a twelve month low of $3.25 and a twelve month high of $10.45. The stock has a 50 day moving average of $4.08 and a two-hundred day moving average of $5.61. The stock has a market cap of $320.79 million, a P/E ratio of -7.58 and a beta of 0.67.

Anavex Life Sciences (NASDAQ:AVXLGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). During the same period in the previous year, the firm posted ($0.17) earnings per share. As a group, research analysts predict that Anavex Life Sciences will post -0.55 earnings per share for the current year.

Insider Activity

In other news, CEO Christopher U. Missling sold 73,380 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $5.11, for a total value of $374,971.80. Following the transaction, the chief executive officer now owns 1,250,210 shares of the company’s stock, valued at $6,388,573.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Anavex Life Sciences by 1.2% during 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 during the period. Nwam LLC grew its holdings in Anavex Life Sciences by 4.8% during the first quarter. Nwam LLC now owns 836,730 shares of the biotechnology company’s stock worth $4,259,000 after acquiring an additional 38,437 shares during the period. Jupiter Asset Management Ltd. grew its holdings in Anavex Life Sciences by 675.0% during the first 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 period. Charles Schwab Investment Management Inc. grew its holdings in Anavex Life Sciences by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 622,310 shares of the biotechnology company’s stock worth $5,794,000 after acquiring an additional 17,499 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Anavex Life Sciences by 14.2% during the fourth quarter. SG Americas Securities LLC now owns 307,568 shares of the biotechnology company’s stock worth $2,863,000 after acquiring an additional 38,155 shares during the period. Institutional investors and hedge funds own 31.55% of the company’s stock.

About Anavex Life Sciences

(Get Free Report)

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.

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