Anavex Life Sciences’ (AVXL) Buy Rating Reiterated at HC Wainwright

Anavex Life Sciences (NASDAQ:AVXLGet Free Report)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They presently have a $40.00 price target on the biotechnology company’s stock.

Anavex Life Sciences Trading Down 2.1 %

Shares of NASDAQ:AVXL opened at $3.79 on Tuesday. The company has a 50 day moving average of $4.08 and a 200 day moving average of $5.61. The stock has a market cap of $320.79 million, a P/E ratio of -7.58 and a beta of 0.67. Anavex Life Sciences has a 12 month low of $3.25 and a 12 month high of $10.45.

Anavex Life Sciences (NASDAQ:AVXLGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). During the same quarter in the previous year, the firm posted ($0.17) EPS. On average, equities analysts forecast that Anavex Life Sciences will post -0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Anavex Life Sciences news, CEO Christopher U. Missling sold 73,380 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $5.11, for a total value of $374,971.80. Following the completion of the transaction, the chief executive officer now owns 1,250,210 shares of the company’s stock, valued at approximately $6,388,573.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Anavex Life Sciences

Hedge funds have recently made changes to their positions in the business. Orion Capital Management LLC bought a new stake in shares of Anavex Life Sciences in the 3rd quarter worth approximately $59,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Anavex Life Sciences by 351.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,498 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 7,395 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Anavex Life Sciences in the 4th quarter worth approximately $93,000. Tower Research Capital LLC TRC lifted its holdings in shares of Anavex Life Sciences by 32.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,637 shares of the biotechnology company’s stock worth $99,000 after acquiring an additional 2,594 shares during the last quarter. Finally, Hayek Kallen Investment Management bought a new stake in Anavex Life Sciences during the 4th quarter valued at $99,000. 31.55% of the stock is currently owned by institutional investors.

About Anavex Life Sciences

(Get Free Report)

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.

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