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

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Monday, Benzinga reports. They currently have a $40.00 price target on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 419.48% from the company’s current price.

Separately, EF Hutton Acquisition Co. I raised Anavex Life Sciences to a “strong-buy” rating in a research report on Monday, July 22nd.

Anavex Life Sciences Price Performance

Shares of Anavex Life Sciences stock opened at $7.70 on Monday. The stock has a market cap of $652.93 million, a price-to-earnings ratio of -15.40 and a beta of 0.60. The firm’s 50-day moving average is $5.60 and its two-hundred day moving average is $5.08. Anavex Life Sciences has a 1 year low of $3.25 and a 1 year high of $10.45.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. During the same quarter in the prior year, the company earned ($0.14) EPS. On average, equities analysts expect that Anavex Life Sciences will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Atria Investments Inc purchased a new stake in Anavex Life Sciences during the third quarter valued at approximately $76,000. Balentine LLC acquired a new stake in shares of Anavex Life Sciences in the 3rd quarter worth $115,000. Forum Financial Management LP purchased a new position in Anavex Life Sciences during the 3rd quarter worth $200,000. China Universal Asset Management Co. Ltd. grew its stake in Anavex Life Sciences by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock worth $93,000 after buying an additional 6,366 shares during the last quarter. Finally, Private Advisor Group LLC increased its position 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 valued at $269,000 after buying an additional 4,442 shares in the last quarter. Hedge funds and other institutional investors 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.