HC Wainwright Reiterates Buy Rating for Anavex Life Sciences (NASDAQ:AVXL)

HC Wainwright restated their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a report released on Monday morning, Benzinga reports. HC Wainwright currently has a $40.00 target price on the biotechnology company’s stock.

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

Anavex Life Sciences Trading Up 1.2 %

Shares of NASDAQ:AVXL opened at $7.79 on Monday. Anavex Life Sciences has a twelve month low of $3.25 and a twelve month high of $10.45. The company has a market cap of $660.56 million, a PE ratio of -15.40 and a beta of 0.60. The company’s 50 day moving average is $5.64 and its 200 day moving average is $5.11.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. During the same quarter last year, the business posted ($0.14) earnings per share. Equities research analysts predict that Anavex Life Sciences will post -0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Atria Investments Inc purchased a new stake in Anavex Life Sciences during the third quarter worth $76,000. SG Americas Securities LLC acquired a new position in shares of Anavex Life Sciences in the second quarter worth about $57,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Anavex Life Sciences by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock worth $93,000 after acquiring an additional 6,366 shares in the last quarter. Fiduciary Alliance LLC boosted its stake in shares of Anavex Life Sciences by 45.2% during the 2nd quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 6,000 shares in the last quarter. Finally, EntryPoint Capital LLC grew its position in shares of Anavex Life Sciences by 371.1% during the 1st quarter. EntryPoint Capital LLC now owns 20,007 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 15,760 shares during the period. 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.