Anavex Life Sciences (NASDAQ:AVXL) Trading 6.3% Higher - Still a Buy?

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) traded up 6.3% during mid-day trading on Tuesday . The company traded as high as $13.94 and last traded at $13.94. 1,141,135 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 2,249,582 shares. The stock had previously closed at $13.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. D. Boral Capital reiterated a "buy" rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research note on Monday, December 23rd. HC Wainwright raised their target price on Anavex Life Sciences from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, December 26th.

Anavex Life Sciences Stock Up 2.7 %

The company has a market capitalization of $1.14 billion, a P/E ratio of -26.92 and a beta of 0.70. The business has a 50 day simple moving average of $9.19 and a 200-day simple moving average of $6.86.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last issued its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.03. Equities analysts forecast that Anavex Life Sciences Corp. will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AVXL. JPMorgan Chase & Co. grew its holdings in Anavex Life Sciences by 2.9% during the third quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company's stock worth $242,000 after acquiring an additional 1,191 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Anavex Life Sciences by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company's stock valued at $129,000 after purchasing an additional 2,401 shares during the period. Franklin Resources Inc. boosted its position in shares of Anavex Life Sciences by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company's stock valued at $317,000 after purchasing an additional 3,674 shares during the period. Private Advisor Group LLC boosted its position in shares of Anavex Life Sciences by 10.3% in the 3rd quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company's stock valued at $269,000 after purchasing an additional 4,442 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Anavex Life Sciences by 64.0% in 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. 31.55% of the stock is owned by institutional investors and hedge funds.

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.