Cambridge Investment Research Advisors Inc. Buys 164,792 Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL)

Cambridge Investment Research Advisors Inc. raised its stake in Anavex Life Sciences Corp. (NASDAQ:AVXL) by 197.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 248,139 shares of the biotechnology company’s stock after acquiring an additional 164,792 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Anavex Life Sciences were worth $2,129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AVXL. Northern Trust Corp lifted its stake in shares of Anavex Life Sciences by 1.6% in the fourth quarter. Northern Trust Corp now owns 706,901 shares of the biotechnology company’s stock worth $7,592,000 after acquiring an additional 10,938 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Anavex Life Sciences by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,215 shares of the biotechnology company’s stock worth $7,273,000 after purchasing an additional 11,239 shares during the last quarter. Invesco Ltd. lifted its position in shares of Anavex Life Sciences by 2,419.8% in the 4th quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company’s stock worth $6,606,000 after purchasing an additional 590,639 shares during the period. Pier Capital LLC bought a new stake in shares of Anavex Life Sciences in the 4th quarter valued at $4,746,000. Finally, Essential Planning LLC. bought a new stake in shares of Anavex Life Sciences in the 4th quarter valued at $4,437,000. Institutional investors and hedge funds own 31.55% of the company’s stock.

Anavex Life Sciences Stock Performance

Shares of AVXL stock opened at $9.33 on Wednesday. Anavex Life Sciences Corp. has a fifty-two week low of $4.00 and a fifty-two week high of $14.44. The stock has a 50 day simple moving average of $8.53 and a two-hundred day simple moving average of $9.10. The company has a market cap of $796.50 million, a P/E ratio of -16.96 and a beta of 0.71.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. During the same quarter in the prior year, the business posted ($0.13) earnings per share. On average, research analysts predict that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AVXL. HC Wainwright reissued a “buy” rating and set a $42.00 target price on shares of Anavex Life Sciences in a research note on Monday, April 7th. D. Boral Capital reiterated a “buy” rating and set a $46.00 price target on shares of Anavex Life Sciences in a report on Monday, April 7th.

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.