Anavex Life Sciences (NASDAQ:AVXL) Shares Gap Up - Should You Buy?

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $10.74, but opened at $11.27. Anavex Life Sciences shares last traded at $11.70, with a volume of 1,089,714 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. D. Boral Capital reissued a "buy" rating and issued a $46.00 target price on shares of Anavex Life Sciences in a report on Monday, December 23rd. HC Wainwright increased their price objective on shares of Anavex Life Sciences from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, December 26th.

Anavex Life Sciences Stock Performance

The firm has a market capitalization of $1.03 billion, a P/E ratio of -24.30 and a beta of 0.73. The firm has a 50-day moving average of $8.61 and a 200-day moving average of $6.59.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last released its quarterly earnings data on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. On average, research analysts forecast that Anavex Life Sciences Corp. will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC raised its stake in Anavex Life Sciences by 666.7% during the 3rd quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company's stock valued at $65,000 after buying an additional 10,000 shares during the last quarter. PVG Asset Management Corp purchased a new stake in Anavex Life Sciences during the third quarter valued at $74,000. Atria Investments Inc bought a new position in Anavex Life Sciences in the third quarter valued at about $76,000. BNP Paribas Financial Markets boosted its position in Anavex Life Sciences by 97.0% in the third quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company's stock worth $86,000 after purchasing an additional 7,421 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Anavex Life Sciences by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company's stock valued at $93,000 after purchasing an additional 6,366 shares during the period. 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.