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

HC Wainwright reiterated their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a research report report published on Tuesday,Benzinga reports. They currently have a $42.00 price target on the biotechnology company’s stock.

Separately, D. Boral Capital reaffirmed a “buy” rating and issued a $46.00 price target on shares of Anavex Life Sciences in a report on Monday, January 13th.

Anavex Life Sciences Stock Performance

Shares of NASDAQ:AVXL opened at $10.20 on Tuesday. The firm has a market cap of $865.16 million, a price-to-earnings ratio of -19.62 and a beta of 0.70. The firm has a fifty day moving average price of $9.81 and a 200 day moving average price of $7.35. Anavex Life Sciences has a fifty-two week low of $3.25 and a fifty-two week high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last posted its earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. As a group, research analysts predict that Anavex Life Sciences will post -0.73 earnings per share for the current year.

Institutional Trading of Anavex Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVXL. Orion Capital Management LLC boosted its position in shares of Anavex Life Sciences by 666.7% during the third quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 10,000 shares during the period. PVG Asset Management Corp purchased a new position in Anavex Life Sciences during the 3rd quarter valued at $74,000. Atria Investments Inc bought a new position in shares of Anavex Life Sciences in the third quarter worth about $76,000. BNP Paribas Financial Markets boosted its position in 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 buying an additional 7,421 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Anavex Life Sciences by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock valued at $93,000 after purchasing an additional 6,366 shares during the period. 31.55% of the stock is owned by hedge funds and other 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.