Anavex Life Sciences (NASDAQ:AVXL) Given "Buy" Rating at HC Wainwright

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $42.00 price target on the biotechnology company's stock. HC Wainwright's price target would indicate a potential upside of 374.04% from the stock'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 note on Monday, April 7th.

Anavex Life Sciences Stock Performance

Shares of Anavex Life Sciences stock traded up $0.32 on Monday, hitting $8.86. 699,638 shares of the company's stock were exchanged, compared to its average volume of 1,263,729. The stock has a market capitalization of $753.67 million, a PE ratio of -16.11 and a beta of 0.80. Anavex Life Sciences has a 1 year low of $3.25 and a 1 year high of $14.44. The company has a 50-day simple moving average of $8.70 and a 200-day simple moving average of $8.52.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last released its earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.03. On average, analysts expect that Anavex Life Sciences will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Anavex Life Sciences by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company's stock worth $10,699,000 after purchasing an additional 51,946 shares during the period. Nwam LLC boosted its position in shares of Anavex Life Sciences by 0.3% during the fourth quarter. Nwam LLC now owns 913,051 shares of the biotechnology company's stock worth $9,806,000 after acquiring an additional 2,575 shares during the last quarter. Northern Trust Corp grew its stake in Anavex Life Sciences by 1.6% during the fourth quarter. Northern Trust Corp now owns 706,901 shares of the biotechnology company's stock valued at $7,592,000 after acquiring an additional 10,938 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Anavex Life Sciences by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,215 shares of the biotechnology company's stock valued at $7,273,000 after acquiring an additional 11,239 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Anavex Life Sciences by 2,419.8% in the 4th quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company's stock worth $6,606,000 after purchasing an additional 590,639 shares in the last quarter. 31.55% of the stock is owned by institutional investors.

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.