Anavex Life Sciences (NASDAQ:AVXL) Share Price Passes Above 50 Day Moving Average – Should You Sell?

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.81 and traded as high as $3.68. Anavex Life Sciences shares last traded at $3.56, with a volume of 2,474,377 shares changing hands.

Wall Street Analysts Forecast Growth

AVXL has been the subject of several research reports. Weiss Ratings lowered shares of Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Rodman & Renshaw started coverage on shares of Anavex Life Sciences in a research report on Monday, May 4th. They set a “buy” rating and a $20.00 target price for the company. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.33.

Anavex Life Sciences Stock Performance

The stock has a fifty day moving average of $2.82 and a 200 day moving average of $3.24. The company has a market capitalization of $290.15 million, a P/E ratio of -20.87 and a beta of 1.15.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings results on Tuesday, August 25th. The biotechnology company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). Research analysts anticipate that Anavex Life Sciences Corp. will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVXL. State of Wyoming purchased a new position in shares of Anavex Life Sciences during the 2nd quarter valued at $26,000. Yukon Wealth Management Inc. purchased a new stake in Anavex Life Sciences in the 2nd quarter worth $36,000. Quarry LP bought a new stake in Anavex Life Sciences during the third quarter valued at about $36,000. Advisory Alpha LLC bought a new stake in Anavex Life Sciences during the fourth quarter valued at about $44,000. Finally, Aigen Investment Management LP purchased a new position in shares of Anavex Life Sciences in the fourth quarter valued at about $44,000. 31.55% of the stock is owned by hedge funds and other institutional investors.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp is a clinical?stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma?1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2?73), is a small?molecule activator of the sigma?1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.