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

Anavex Life Sciences (NASDAQ:AVXLGet Free Report)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $42.00 price target on the biotechnology company’s stock. HC Wainwright’s target price points to a potential upside of 332.99% from the company’s current price.

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $46.00 price target on shares of Anavex Life Sciences in a report on Tuesday.

Check Out Our Latest Stock Analysis on Anavex Life Sciences

Anavex Life Sciences Trading Down 2.1 %

Shares of NASDAQ:AVXL opened at $9.70 on Tuesday. The stock has a fifty day simple moving average of $9.98 and a two-hundred day simple moving average of $7.51. The stock has a market capitalization of $822.72 million, a price-to-earnings ratio of -18.65 and a beta of 0.70. Anavex Life Sciences has a 12-month low of $3.25 and a 12-month high of $14.44.

Anavex Life Sciences (NASDAQ:AVXLGet Free Report) last issued its earnings results 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. As a group, equities research analysts predict that Anavex Life Sciences will post -0.73 EPS for the current year.

Institutional Trading of Anavex Life Sciences

A number of hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in Anavex Life Sciences by 2.9% in the third 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 last quarter. China Universal Asset Management Co. Ltd. lifted its position in Anavex Life Sciences by 10.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,980 shares of the biotechnology company’s stock worth $193,000 after acquiring an additional 1,671 shares during the period. Foster Victor Wealth Advisors LLC grew its stake in Anavex Life Sciences by 5.6% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 37,663 shares of the biotechnology company’s stock valued at $405,000 after purchasing an additional 2,000 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of 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 purchasing an additional 2,401 shares during the period. Finally, Carnegie Investment Counsel raised its stake in shares of Anavex Life Sciences by 4.7% in the fourth quarter. Carnegie Investment Counsel now owns 76,778 shares of the biotechnology company’s stock worth $825,000 after purchasing an additional 3,445 shares during the last quarter. Hedge funds and other institutional investors own 31.55% of the company’s stock.

Anavex Life Sciences Company Profile

(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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