Anavex Life Sciences (NASDAQ:AVXL) Shares Gap Up – Here’s Why

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s stock price gapped up before the market opened 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 trading hands.

Wall Street Analyst Weigh In

AVXL has been the subject of a number of recent research reports. D. Boral Capital reissued a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research note on Monday, December 23rd. HC Wainwright boosted their price objective on Anavex Life Sciences from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 26th.

Anavex Life Sciences Price Performance

The company has a market capitalization of $1.05 billion, a P/E ratio of -24.70 and a beta of 0.73. The company has a 50 day moving average of $8.89 and a 200-day moving average of $6.69.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings data 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. Research analysts predict that Anavex Life Sciences Corp. will post -0.55 EPS for the current fiscal year.

Institutional Trading of Anavex Life Sciences

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Anavex Life Sciences by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company’s stock valued at $242,000 after purchasing an additional 1,191 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Anavex Life Sciences by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 2,401 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Anavex Life Sciences by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock worth $317,000 after buying an additional 3,674 shares during the period. Private Advisor Group LLC increased its stake in shares of Anavex Life Sciences by 10.3% in the 3rd quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company’s stock worth $269,000 after acquiring an additional 4,442 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Anavex Life Sciences by 64.0% in the third 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 institutional investors.

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.