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

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $42.00 target price on the biotechnology company’s stock. HC Wainwright’s price target would suggest a potential upside of 338.41% from the stock’s current price.

AVXL has been the subject of several other reports. D. Boral Capital reaffirmed a “buy” rating and set a $46.00 price objective on shares of Anavex Life Sciences in a report on Wednesday. Wall Street Zen lowered shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 23rd. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Anavex Life Sciences presently has a consensus rating of “Buy” and an average target price of $44.00.

Anavex Life Sciences Stock Performance

Shares of AVXL stock opened at $9.58 on Wednesday. The stock’s 50 day simple moving average is $10.50 and its 200 day simple moving average is $9.31. Anavex Life Sciences has a twelve month low of $5.03 and a twelve month high of $14.44. The company has a market capitalization of $822.83 million, a price-to-earnings ratio of -16.81 and a beta of 0.83.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). On average, analysts forecast that Anavex Life Sciences will post -0.69 EPS for the current fiscal year.

Institutional Trading of Anavex Life Sciences

A number of hedge funds have recently bought and sold shares of the stock. PVG Asset Management Corp grew its position in Anavex Life Sciences by 34.9% in the 2nd quarter. PVG Asset Management Corp now owns 111,445 shares of the biotechnology company’s stock worth $1,028,000 after purchasing an additional 28,837 shares during the last quarter. State of Wyoming bought a new stake in shares of Anavex Life Sciences in the second quarter valued at about $26,000. Tower Research Capital LLC TRC grew its position in Anavex Life Sciences by 215.7% during the second quarter. Tower Research Capital LLC TRC now owns 13,850 shares of the biotechnology company’s stock worth $128,000 after buying an additional 9,463 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Anavex Life Sciences by 1.5% during the second quarter. Ameriprise Financial Inc. now owns 85,990 shares of the biotechnology company’s stock valued at $793,000 after acquiring an additional 1,233 shares during the period. Finally, Raymond James Financial Inc. increased its stake in Anavex Life Sciences by 29.2% during the second quarter. Raymond James Financial Inc. now owns 22,130 shares of the biotechnology company’s stock valued at $204,000 after acquiring an additional 5,000 shares during the period. 31.55% of the stock is owned by institutional investors.

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.