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

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $40.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 342.97% 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 report on Monday.

Anavex Life Sciences Price Performance

Shares of NASDAQ:AVXL opened at $9.03 on Wednesday. The firm has a fifty day moving average price of $6.61 and a two-hundred day moving average price of $5.65. The company has a market cap of $765.74 million, a price-to-earnings ratio of -18.06 and a beta of 0.60. Anavex Life Sciences has a one year low of $3.25 and a one year high of $10.45.

Institutional Trading of Anavex Life Sciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Anavex Life Sciences by 1.2% during the first quarter. Vanguard Group Inc. now owns 4,414,682 shares of the biotechnology company’s stock valued at $22,471,000 after purchasing an additional 54,034 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Anavex Life Sciences by 87.5% during the 1st quarter. Virtu Financial LLC now owns 40,612 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 18,954 shares in the last quarter. Fiduciary Alliance LLC lifted its position in Anavex Life Sciences by 45.2% in the 2nd quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock worth $80,000 after buying an additional 6,000 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Anavex Life Sciences in the second quarter worth approximately $57,000. Finally, Bank of New York Mellon Corp grew its position in Anavex Life Sciences by 17.1% during the second quarter. Bank of New York Mellon Corp now owns 280,556 shares of the biotechnology company’s stock valued at $1,184,000 after acquiring an additional 40,895 shares during 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.