Anavex Life Sciences (NASDAQ:AVXL) Shares Up 5.2% – What’s Next?

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) were up 5.2% during mid-day trading on Monday . The stock traded as high as $9.13 and last traded at $9.13. Approximately 340,574 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 1,264,724 shares. The stock had previously closed at $8.67.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $42.00 price objective on shares of Anavex Life Sciences in a report on Tuesday, February 18th. D. Boral Capital reiterated a “buy” rating and issued a $46.00 price objective on shares of Anavex Life Sciences in a report on Wednesday, February 12th.

Anavex Life Sciences Stock Up 3.7 %

The firm has a market capitalization of $764.73 million, a P/E ratio of -16.35 and a beta of 0.94. The firm has a 50 day moving average of $9.59 and a 200-day moving average of $7.94.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. As a group, research analysts expect that Anavex Life Sciences Corp. will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Anavex Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in AVXL. Nwam LLC acquired a new stake in shares of Anavex Life Sciences during the 3rd quarter worth approximately $5,172,000. Invesco Ltd. boosted its holdings 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 valued at $6,606,000 after purchasing an additional 590,639 shares in the last quarter. Pier Capital LLC bought a new position in shares of Anavex Life Sciences in the 4th quarter valued at $4,746,000. Essential Planning LLC. acquired a new position in shares of Anavex Life Sciences during the 4th quarter worth $4,437,000. Finally, Wellington Management Group LLP bought a new stake in shares of Anavex Life Sciences during the 4th quarter worth $1,704,000. 31.55% of the stock is currently owned by institutional investors and hedge funds.

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.