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

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $42.00 price objective on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 320.42% from the company’s current price.

Separately, D. Boral Capital reiterated a “buy” rating and set a $46.00 price objective on shares of Anavex Life Sciences in a research report on Monday, January 13th.

Anavex Life Sciences Stock Performance

Shares of AVXL stock opened at $9.99 on Tuesday. The company has a market capitalization of $847.35 million, a price-to-earnings ratio of -19.21 and a beta of 0.70. Anavex Life Sciences has a 52 week low of $3.25 and a 52 week high of $14.44. The company has a 50-day simple moving average of $9.77 and a 200 day simple moving average of $7.33.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in shares of Anavex Life Sciences by 2.9% in the third quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company’s stock valued at $242,000 after buying an additional 1,191 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Anavex Life Sciences by 8.5% in the 2nd 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. Carnegie Investment Counsel lifted its position in shares of Anavex Life Sciences by 4.7% during the 4th quarter. Carnegie Investment Counsel now owns 76,778 shares of the biotechnology company’s stock valued at $825,000 after acquiring an additional 3,445 shares during the period. Franklin Resources Inc. grew its holdings in shares of Anavex Life Sciences by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock worth $317,000 after purchasing an additional 3,674 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Anavex Life Sciences by 10.3% in the third quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company’s stock worth $269,000 after purchasing an additional 4,442 shares during the period. Institutional investors and hedge funds 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.