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

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $42.00 price target on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 392.96% from the company’s current price.

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a research note on Wednesday, February 12th.

Anavex Life Sciences Price Performance

Anavex Life Sciences stock opened at $8.52 on Tuesday. Anavex Life Sciences has a 1-year low of $3.25 and a 1-year high of $14.44. The stock has a market cap of $722.67 million, a price-to-earnings ratio of -16.38 and a beta of 0.69. The firm has a 50 day simple moving average of $9.95 and a 200-day simple moving average of $7.74.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. Equities analysts expect that Anavex Life Sciences will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in Anavex Life Sciences by 102.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 1,708 shares in the last quarter. Berkshire Money Management Inc. acquired a new stake in shares of Anavex Life Sciences during the fourth quarter worth about $107,000. Prudential Financial Inc. acquired a new stake in shares of Anavex Life Sciences during the fourth quarter worth about $109,000. Fiduciary Alliance LLC purchased a new position in shares of Anavex Life Sciences in the fourth quarter valued at approximately $119,000. Finally, D.A. Davidson & CO. acquired a new position in shares of Anavex Life Sciences in the fourth quarter valued at approximately $122,000. 31.55% of the stock is currently owned by hedge funds and other institutional investors.

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.