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

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $42.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 332.99% from the company’s current price.

Separately, D. Boral Capital restated a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a research note on Tuesday.

Anavex Life Sciences Stock Performance

NASDAQ AVXL opened at $9.70 on Tuesday. Anavex Life Sciences has a 52-week low of $3.25 and a 52-week high of $14.44. The business has a 50 day simple moving average of $9.98 and a 200 day simple moving average of $7.51. The stock has a market cap of $822.72 million, a price-to-earnings ratio of -18.65 and a beta of 0.70.

Anavex Life Sciences (NASDAQ:AVXL) last issued its earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. On average, analysts predict that Anavex Life Sciences will post -0.73 EPS for the current year.

Institutional Trading of Anavex Life Sciences

A number of hedge funds have recently bought and sold shares of AVXL. Renaissance Technologies LLC lifted its holdings in Anavex Life Sciences by 483.8% during the second quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company’s stock valued at $1,968,000 after purchasing an additional 386,537 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Anavex Life Sciences in the second quarter worth $166,000. Squarepoint Ops LLC purchased a new stake in Anavex Life Sciences during the 2nd quarter worth about $191,000. AQR Capital Management LLC increased its position in shares of Anavex Life Sciences by 145.8% during the second quarter. AQR Capital Management LLC now owns 45,219 shares of the biotechnology company’s stock valued at $191,000 after buying an additional 26,821 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Anavex Life Sciences by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 2,401 shares in the last quarter. 31.55% of the stock is currently owned by institutional investors.

Anavex Life Sciences Company 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.