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Anavex Life Sciences (NASDAQ:AVXL) Sets New 1-Year High on Better-Than-Expected Earnings

Anavex Life Sciences logo with Medical background

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) hit a new 52-week high on Monday following a stronger than expected earnings report. The stock traded as high as $11.50 and last traded at $11.13, with a volume of 2600190 shares. The stock had previously closed at $8.63.

The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. D. Boral Capital reiterated a "buy" rating and set a $46.00 price objective on shares of Anavex Life Sciences in a report on Monday. HC Wainwright reaffirmed a "buy" rating and set a $40.00 price target on shares of Anavex Life Sciences in a research note on Wednesday, November 27th.

Read Our Latest Report on AVXL

Institutional Investors Weigh In On Anavex Life Sciences

Several institutional investors have recently bought and sold shares of AVXL. Charles Schwab Investment Management Inc. boosted its holdings in Anavex Life Sciences by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company's stock worth $3,783,000 after acquiring an additional 14,892 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Anavex Life Sciences by 483.8% during the second quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company's stock worth $1,968,000 after purchasing an additional 386,537 shares during the last quarter. Nwam LLC bought a new stake in Anavex Life Sciences in the 3rd quarter worth about $5,172,000. Deerfield Management Company L.P. Series C purchased a new stake in Anavex Life Sciences in the 2nd quarter valued at about $346,000. Finally, Private Advisor Group LLC lifted its position in shares of Anavex Life Sciences by 10.3% during the 3rd quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company's stock worth $269,000 after buying an additional 4,442 shares in the last quarter. Institutional investors own 31.55% of the company's stock.

Anavex Life Sciences Stock Performance

The stock has a market cap of $948.02 million, a PE ratio of -22.36 and a beta of 0.73. The business has a 50 day moving average price of $7.69 and a two-hundred day moving average price of $6.19.

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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