Anavex Life Sciences (NASDAQ:AVXL) Announces Earnings Results, Meets Estimates

Anavex Life Sciences (NASDAQ:AVXL) announced its quarterly earnings data on Wednesday. The biotechnology company reported ($0.15) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.15), Yahoo Finance reports. During the same period last year, the business posted ($0.10) EPS.

Shares of AVXL stock traded up $1.02 during mid-day trading on Thursday, hitting $18.99. 1,391,200 shares of the stock traded hands, compared to its average volume of 2,249,869. Anavex Life Sciences has a twelve month low of $4.51 and a twelve month high of $31.50. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -39.56 and a beta of 0.68. The company’s 50-day simple moving average is $19.02 and its 200-day simple moving average is $18.77.

Several research firms recently weighed in on AVXL. Zacks Investment Research upgraded Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Wednesday, October 13th. HC Wainwright reiterated a “buy” rating and issued a $39.00 target price on shares of Anavex Life Sciences in a research report on Thursday, October 14th. Finally, BTIG Research reiterated a “buy” rating and issued a $35.00 target price on shares of Anavex Life Sciences in a research report on Friday, November 19th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $30.04.

Several hedge funds have recently modified their holdings of AVXL. BNP Paribas Arbitrage SA grew its holdings in shares of Anavex Life Sciences by 408.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 11,414 shares of the biotechnology company’s stock worth $205,000 after acquiring an additional 9,169 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Anavex Life Sciences by 28.9% in the 3rd quarter. Royal Bank of Canada now owns 16,097 shares of the biotechnology company’s stock worth $289,000 after acquiring an additional 3,609 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Anavex Life Sciences by 75.7% in the 3rd quarter. LPL Financial LLC now owns 20,688 shares of the biotechnology company’s stock worth $371,000 after acquiring an additional 8,913 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Anavex Life Sciences by 58.7% in the 2nd quarter. Wells Fargo & Company MN now owns 90,901 shares of the biotechnology company’s stock worth $2,078,000 after acquiring an additional 33,617 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Anavex Life Sciences by 28.7% during the third quarter. Millennium Management LLC now owns 127,359 shares of the biotechnology company’s stock valued at $2,286,000 after buying an additional 28,391 shares in the last quarter. Institutional investors own 28.86% of the company’s stock.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound, ANAVEX2-73, is being developed to treat Alzheimer’s and Parkinson’s disease and central nervous system diseases, including Rett syndrome.

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Earnings History for Anavex Life Sciences (NASDAQ:AVXL)

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