Anavex Life Sciences (NASDAQ:AVXL) Reaches New 52-Week High on Better-Than-Expected Earnings

Anavex Life Sciences Corp. (NASDAQ:AVXL) hit a new 52-week high on Monday following a stronger than expected earnings report. The stock traded as high as $11.50 and last traded at $11.13, with a volume of 2600190 shares. The stock had previously closed at $8.63.

The biotechnology company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03.

Analyst Upgrades and Downgrades

AVXL has been the topic of a number of research analyst reports. D. Boral Capital reaffirmed a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a report on Monday. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Anavex Life Sciences in a research report on Wednesday, November 27th.

Institutional Trading of Anavex Life Sciences

Several large investors have recently added to or reduced their stakes in AVXL. SG Americas Securities LLC acquired a new stake in shares of Anavex Life Sciences during the 2nd quarter valued at $57,000. Orion Capital Management LLC raised its holdings in shares of Anavex Life Sciences by 666.7% during the third quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock worth $65,000 after acquiring an additional 10,000 shares in the last quarter. PVG Asset Management Corp acquired a new stake in Anavex Life Sciences during the third quarter valued at $74,000. Atria Investments Inc purchased a new position in Anavex Life Sciences in the third quarter valued at about $76,000. Finally, BNP Paribas Financial Markets raised 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 in the last quarter. 31.55% of the stock is owned by institutional investors and hedge funds.

Anavex Life Sciences Stock Performance

The company has a market capitalization of $921.73 million, a PE ratio of -21.74 and a beta of 0.73. The stock has a 50 day moving average price of $7.91 and a two-hundred day moving average price of $6.29.

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.