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

HC Wainwright reiterated their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL - Free Report) in a research note published on Tuesday morning,Benzinga reports. They currently have a $42.00 target price on the biotechnology company's stock.

Separately, D. Boral Capital reiterated a "buy" rating and set a $46.00 price target on shares of Anavex Life Sciences in a research note on Monday, January 13th.

Anavex Life Sciences Stock Performance

Shares of AVXL traded up $0.41 during mid-day trading on Tuesday, hitting $9.62. 1,095,743 shares of the company's stock were exchanged, compared to its average volume of 2,323,204. Anavex Life Sciences has a fifty-two week low of $3.25 and a fifty-two week high of $14.44. The stock's 50-day moving average is $9.73 and its 200-day moving average is $7.27. The company has a market cap of $815.93 million, a price-to-earnings ratio of -18.51 and a beta of 0.70.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last posted its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.03. As a group, equities research analysts anticipate that Anavex Life Sciences will post -0.73 EPS for the current year.

Institutional Trading of Anavex Life Sciences

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of Anavex Life Sciences by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company's stock valued at $242,000 after purchasing an additional 1,191 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Anavex Life Sciences by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company's stock worth $129,000 after buying an additional 2,401 shares during the period. Carnegie Investment Counsel raised its stake in shares of Anavex Life Sciences by 4.7% during the fourth quarter. Carnegie Investment Counsel now owns 76,778 shares of the biotechnology company's stock valued at $825,000 after purchasing an additional 3,445 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Anavex Life Sciences by 6.7% during the third quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company's stock valued at $317,000 after acquiring an additional 3,674 shares during the period. Finally, Private Advisor Group LLC boosted its stake in Anavex Life Sciences by 10.3% during the third quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company's stock valued at $269,000 after buying an additional 4,442 shares in the last quarter. 31.55% of the stock is owned by institutional investors and hedge funds.

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.