Anavex Life Sciences (NASDAQ:AVXL) Trading Down 5.8% - What's Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) dropped 5.8% on Monday . The stock traded as low as $8.46 and last traded at $8.73. Approximately 1,229,957 shares were traded during trading, a decline of 32% from the average daily volume of 1,803,533 shares. The stock had previously closed at $9.27.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AVXL shares. D. Boral Capital restated a "buy" rating and set a $46.00 target price on shares of Anavex Life Sciences in a research note on Tuesday, January 28th. HC Wainwright restated a "buy" rating and set a $42.00 price objective on shares of Anavex Life Sciences in a research report on Tuesday, January 28th.

Anavex Life Sciences Price Performance

The firm has a market cap of $721.82 million, a price-to-earnings ratio of -16.37 and a beta of 0.69. The stock has a 50-day moving average price of $9.95 and a 200 day moving average price of $7.65.

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

Institutional Investors Weigh In On Anavex Life Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Berkshire Money Management Inc. acquired a new position in shares of Anavex Life Sciences in the fourth quarter valued at approximately $107,000. Fiduciary Alliance LLC purchased a new position in Anavex Life Sciences during the 4th quarter worth $119,000. D.A. Davidson & CO. acquired a new stake in shares of Anavex Life Sciences in the 4th quarter worth $122,000. Orion Capital Management LLC boosted its holdings in shares of Anavex Life Sciences by 666.7% in the third quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company's stock valued at $65,000 after acquiring an additional 10,000 shares in the last quarter. Finally, PVG Asset Management Corp acquired a new position in shares of Anavex Life Sciences during the third quarter worth about $74,000. 31.55% of the stock is owned by hedge funds and other institutional investors.

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.