The Manufacturers Life Insurance Company Raises Stock Holdings in Anavex Life Sciences Corp. (NASDAQ:AVXL)

The Manufacturers Life Insurance Company boosted its stake in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) by 8.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,510 shares of the biotechnology company’s stock after buying an additional 2,401 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Anavex Life Sciences were worth $129,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Anavex Life Sciences during the 2nd quarter worth approximately $57,000. Fiduciary Alliance LLC acquired a new position in Anavex Life Sciences during the first quarter worth $67,000. EntryPoint Capital LLC boosted its position in shares of Anavex Life Sciences by 371.1% during the first quarter. EntryPoint Capital LLC now owns 20,007 shares of the biotechnology company’s stock worth $102,000 after buying an additional 15,760 shares during the period. Saxon Interests Inc. acquired a new stake in shares of Anavex Life Sciences in the first quarter valued at $136,000. Finally, Marshall Wace LLP purchased a new stake in shares of Anavex Life Sciences in the 2nd quarter valued at $166,000. 31.55% of the stock is currently owned by institutional investors and hedge funds.

Anavex Life Sciences Stock Up 2.6 %

NASDAQ:AVXL opened at $5.65 on Friday. Anavex Life Sciences Corp. has a 52 week low of $3.25 and a 52 week high of $10.45. The company has a fifty day simple moving average of $5.68 and a two-hundred day simple moving average of $4.95. The company has a market cap of $478.23 million, a price-to-earnings ratio of -11.30 and a beta of 0.61.

Anavex Life Sciences (NASDAQ:AVXL) last released its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. During the same period last year, the firm earned ($0.14) EPS. On average, analysts expect that Anavex Life Sciences Corp. will post -0.55 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. EF Hutton Acquisition Co. I upgraded Anavex Life Sciences to a “strong-buy” rating in a report on Monday, July 22nd. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Anavex Life Sciences in a research note on Friday.

Anavex Life Sciences 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.