HC Wainwright Boosts Anavex Life Sciences (NASDAQ:AVXL) Price Target to $42.00

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) had its price target boosted by stock analysts at HC Wainwright from $40.00 to $42.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the biotechnology company's stock. HC Wainwright's price objective indicates a potential upside of 234.39% from the company's previous close.

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

Anavex Life Sciences Stock Up 15.5 %

Shares of NASDAQ:AVXL traded up $1.69 during midday trading on Thursday, reaching $12.56. The company's stock had a trading volume of 6,293,646 shares, compared to its average volume of 1,270,370. Anavex Life Sciences has a twelve month low of $3.25 and a twelve month high of $14.44. The firm has a market capitalization of $1.07 billion, a PE ratio of -25.12 and a beta of 0.73. The stock has a fifty day moving average of $8.16 and a 200 day moving average of $6.36.

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 (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03. Sell-side analysts anticipate that Anavex Life Sciences will post -0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AVXL. Orion Capital Management LLC increased 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 worth $65,000 after buying an additional 10,000 shares in the last quarter. PVG Asset Management Corp acquired a new position in Anavex Life Sciences in the 3rd quarter valued at $74,000. Atria Investments Inc purchased a new position in Anavex Life Sciences in the 3rd quarter valued at $76,000. BNP Paribas Financial Markets boosted its stake in Anavex Life Sciences by 97.0% during the 3rd 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 holdings in shares of Anavex Life Sciences by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company's stock worth $93,000 after buying an additional 6,366 shares in the last quarter. Institutional investors and hedge funds 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.