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

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $42.00 target price on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 452.63% from the company’s previous close.

Separately, D. Boral Capital restated a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research note on Monday.

Anavex Life Sciences Trading Down 8.8 %

Shares of Anavex Life Sciences stock opened at $7.60 on Monday. The company has a 50-day moving average of $8.73 and a two-hundred day moving average of $8.45. The stock has a market cap of $646.49 million, a PE ratio of -13.82 and a beta of 0.80. Anavex Life Sciences has a 12-month low of $3.25 and a 12-month high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. On average, sell-side analysts forecast that Anavex Life Sciences will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Anavex Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVXL. Charles Schwab Investment Management Inc. lifted its position in Anavex Life Sciences by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company’s stock worth $3,783,000 after buying an additional 14,892 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Anavex Life Sciences by 97.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company’s stock valued at $86,000 after purchasing an additional 7,421 shares during the period. Barclays PLC lifted its position in shares of Anavex Life Sciences by 70.4% during the 3rd quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock worth $882,000 after buying an additional 64,101 shares during the period. Geode Capital Management LLC boosted its stake in Anavex Life Sciences by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock valued at $10,699,000 after buying an additional 51,946 shares in the last quarter. Finally, Orion Capital Management LLC lifted its holdings in Anavex Life Sciences by 666.7% during the 3rd quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 10,000 shares during the last quarter. 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.