HC Wainwright Forecasts Strong Price Appreciation for Anavex Life Sciences (NASDAQ:AVXL) Stock

Anavex Life Sciences (NASDAQ:AVXL) had its price objective hoisted by investment analysts at HC Wainwright from $40.00 to $42.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 246.82% from the company’s previous close.

Separately, D. Boral Capital reiterated a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a report on Monday, December 23rd.

Anavex Life Sciences Stock Down 3.6 %

Shares of Anavex Life Sciences stock opened at $12.11 on Thursday. The firm has a market cap of $1.03 billion, a PE ratio of -24.22 and a beta of 0.73. Anavex Life Sciences has a 52 week low of $3.25 and a 52 week high of $14.44. The business’s fifty day simple moving average is $8.29 and its 200-day simple moving average is $6.42.

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, equities analysts expect that Anavex Life Sciences will post -0.55 earnings per share for the current year.

Institutional Trading of Anavex Life Sciences

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in Anavex Life Sciences by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company’s stock worth $242,000 after buying an additional 1,191 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Anavex Life Sciences by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock valued at $129,000 after purchasing an additional 2,401 shares during the period. Franklin Resources Inc. grew its stake in Anavex Life Sciences by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock worth $317,000 after purchasing an additional 3,674 shares in the last quarter. Private Advisor Group LLC increased its holdings in Anavex Life Sciences by 10.3% during the 3rd quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company’s stock worth $269,000 after purchasing an additional 4,442 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in Anavex Life Sciences by 64.0% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

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.