Anavex Life Sciences (NASDAQ:AVXL) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a research note published on Monday,Benzinga reports. They currently have a $42.00 target price on the biotechnology company’s stock.

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

Anavex Life Sciences Stock Up 1.7 %

Shares of AVXL opened at $8.33 on Monday. The company has a 50 day moving average of $8.81 and a two-hundred day moving average of $8.44. Anavex Life Sciences has a twelve month low of $3.25 and a twelve month high of $14.44. The company has a market cap of $708.58 million, a price-to-earnings ratio of -15.15 and a beta of 0.80.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. On average, sell-side analysts expect that Anavex Life Sciences will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Anavex Life Sciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vermillion Wealth Management Inc. acquired a new position in shares of Anavex Life Sciences in the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC increased its holdings in 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 worth $36,000 after acquiring an additional 1,708 shares in the last quarter. Berkshire Money Management Inc. purchased a new stake in shares of Anavex Life Sciences during the fourth quarter worth about $107,000. Prudential Financial Inc. acquired a new position in Anavex Life Sciences in the 4th quarter valued at $109,000. Finally, Fiduciary Alliance LLC acquired a new position in Anavex Life Sciences during the fourth quarter worth about $119,000. 31.55% of the stock is currently owned by institutional investors and hedge funds.

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.