Anavex Life Sciences (NASDAQ:AVXL) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a $42.00 price objective on the biotechnology company’s stock.

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

Anavex Life Sciences Price Performance

Shares of AVXL opened at $8.70 on Tuesday. The business’s 50 day simple moving average is $9.96 and its 200-day simple moving average is $7.76. Anavex Life Sciences has a 1 year low of $3.25 and a 1 year high of $14.44. The stock has a market capitalization of $737.93 million, a price-to-earnings ratio of -16.73 and a beta of 0.69.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in shares of Anavex Life Sciences by 102.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 1,708 shares in the last quarter. Orion Capital Management LLC raised its position in Anavex Life Sciences by 666.7% during the 3rd quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock worth $65,000 after buying an additional 10,000 shares during the last quarter. PVG Asset Management Corp acquired a new stake in shares of Anavex Life Sciences during the 3rd quarter worth approximately $74,000. Atria Investments Inc acquired a new stake in shares of Anavex Life Sciences during the 3rd quarter worth approximately $76,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Anavex Life Sciences by 97.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company’s stock worth $86,000 after purchasing an additional 7,421 shares during the period. 31.55% of the stock is currently owned by 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.