Anavex Life Sciences (NASDAQ:AVXL) Stock Price Passes Below 50 Day Moving Average – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s stock price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.06 and traded as low as $2.56. Anavex Life Sciences shares last traded at $2.57, with a volume of 941,537 shares trading hands.

Analysts Set New Price Targets

AVXL has been the subject of a number of recent analyst reports. D. Boral Capital reiterated a “buy” rating and issued a $24.00 price target on shares of Anavex Life Sciences in a research report on Tuesday, March 31st. Weiss Ratings upgraded Anavex Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Rodman & Renshaw initiated coverage on Anavex Life Sciences in a research report on Monday, May 4th. They issued a “buy” rating and a $20.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Anavex Life Sciences in a research report on Tuesday, February 10th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Anavex Life Sciences currently has an average rating of “Hold” and a consensus price target of $21.33.

Anavex Life Sciences Stock Down 8.9%

The stock has a market capitalization of $238.16 million, a price-to-earnings ratio of -5.59 and a beta of 1.20. The firm has a 50-day moving average of $3.06 and a two-hundred day moving average of $3.81.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AVXL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Anavex Life Sciences by 10.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,525 shares of the biotechnology company’s stock valued at $434,000 after buying an additional 4,869 shares during the period. Legal & General Group Plc raised its position in Anavex Life Sciences by 19.0% during the second quarter. Legal & General Group Plc now owns 86,972 shares of the biotechnology company’s stock valued at $802,000 after buying an additional 13,886 shares during the period. Rhumbline Advisers raised its position in Anavex Life Sciences by 6.1% during the second quarter. Rhumbline Advisers now owns 128,370 shares of the biotechnology company’s stock valued at $1,184,000 after buying an additional 7,377 shares during the period. American Century Companies Inc. acquired a new position in Anavex Life Sciences during the second quarter valued at $135,000. Finally, Prudential Financial Inc. acquired a new position in Anavex Life Sciences during the second quarter valued at $95,000. 31.55% of the stock is owned by institutional investors and hedge funds.

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.