Intech Investment Management LLC Buys New Stake in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Intech Investment Management LLC bought a new stake in Anavex Life Sciences Corp. (NASDAQ:AVXL) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 23,556 shares of the biotechnology company’s stock, valued at approximately $134,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Anavex Life Sciences by 1.2% in the first quarter. Vanguard Group Inc. now owns 4,414,682 shares of the biotechnology company’s stock valued at $22,471,000 after purchasing an additional 54,034 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Anavex Life Sciences by 483.8% in the second quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company’s stock valued at $1,968,000 after purchasing an additional 386,537 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Anavex Life Sciences by 17.1% in the second quarter. Bank of New York Mellon Corp now owns 280,556 shares of the biotechnology company’s stock valued at $1,184,000 after purchasing an additional 40,895 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Anavex Life Sciences by 15.8% in the second quarter. Rhumbline Advisers now owns 119,289 shares of the biotechnology company’s stock valued at $503,000 after purchasing an additional 16,293 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Anavex Life Sciences in the second quarter valued at $346,000. 31.55% of the stock is owned by hedge funds and other institutional investors.

Anavex Life Sciences Stock Up 7.1 %

NASDAQ AVXL opened at $8.14 on Friday. The company has a fifty day moving average of $7.05 and a two-hundred day moving average of $5.86. The firm has a market capitalization of $690.27 million, a price-to-earnings ratio of -16.28 and a beta of 0.73. Anavex Life Sciences Corp. has a 52 week low of $3.25 and a 52 week high of $10.45.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AVXL. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Anavex Life Sciences in a report on Wednesday, November 27th. D. Boral Capital reaffirmed a “buy” rating and set a $46.00 price objective on shares of Anavex Life Sciences in a research note on Monday, November 25th.

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.