Anavex Life Sciences (NASDAQ:AVXL) Given “Buy” Rating at D. Boral Capital

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reiterated by equities researchers at D. Boral Capital in a report released on Wednesday, November 26th,Benzinga reports.

AVXL has been the topic of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Anavex Life Sciences in a report on Wednesday, November 19th. HC Wainwright reiterated a “buy” rating and set a $42.00 target price on shares of Anavex Life Sciences in a research report on Tuesday, October 7th. Jones Trading cut shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, October 24th. Finally, Wall Street Zen lowered shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a report on Saturday, August 23rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Anavex Life Sciences has a consensus rating of “Hold” and an average price target of $44.00.

Anavex Life Sciences Trading Up 24.5%

Shares of Anavex Life Sciences stock traded up $0.90 during trading hours on Wednesday, reaching $4.57. The stock had a trading volume of 7,441,068 shares, compared to its average volume of 1,430,985. The stock’s 50 day moving average is $7.18 and its 200 day moving average is $8.75. The firm has a market capitalization of $408.32 million, a PE ratio of -8.46 and a beta of 1.15. Anavex Life Sciences has a twelve month low of $2.86 and a twelve month high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last posted its earnings results on Tuesday, November 25th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. During the same period last year, the firm earned ($0.14) EPS. As a group, sell-side analysts predict that Anavex Life Sciences will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in Anavex Life Sciences during the 3rd quarter worth $727,000. Verition Fund Management LLC raised its position in shares of Anavex Life Sciences by 109.8% in the third quarter. Verition Fund Management LLC now owns 68,859 shares of the biotechnology company’s stock valued at $613,000 after buying an additional 36,039 shares during the last quarter. Quarry LP purchased a new position in shares of Anavex Life Sciences in the third quarter worth about $36,000. Brevan Howard Capital Management LP acquired a new position in Anavex Life Sciences during the third quarter worth about $153,000. Finally, Bank of America Corp DE boosted its position in Anavex Life Sciences by 3.7% during the third quarter. Bank of America Corp DE now owns 170,886 shares of the biotechnology company’s stock worth $1,521,000 after acquiring an additional 6,157 shares during the last quarter. Hedge funds and other institutional investors own 31.55% of the company’s stock.

Anavex Life Sciences Company Profile

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.