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Anavex Life Sciences (NASDAQ:AVXL) Stock Price Up 7.8% - What's Next?

Anavex Life Sciences logo with Medical background

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) rose 7.8% on Friday . The company traded as high as $8.31 and last traded at $8.19. Approximately 446,675 shares traded hands during trading, a decline of 63% from the average daily volume of 1,209,699 shares. The stock had previously closed at $7.60.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. D. Boral Capital reissued a "buy" rating and set a $46.00 price target on shares of Anavex Life Sciences in a report on Monday, November 25th. HC Wainwright reiterated a "buy" rating and set a $40.00 price objective on shares of Anavex Life Sciences in a research report on Wednesday, November 27th.

Read Our Latest Stock Report on Anavex Life Sciences

Anavex Life Sciences Stock Performance

The stock has a market cap of $690.27 million, a P/E ratio of -16.28 and a beta of 0.73. The stock's fifty day simple moving average is $7.05 and its 200-day simple moving average is $5.86.

Institutional Trading of Anavex Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Anavex Life Sciences during the second quarter worth about $57,000. Orion Capital Management LLC boosted its position in shares of Anavex Life Sciences by 666.7% in the 3rd quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company's stock worth $65,000 after purchasing an additional 10,000 shares in the last quarter. PVG Asset Management Corp purchased a new stake in shares of Anavex Life Sciences in the 3rd quarter worth approximately $74,000. Atria Investments Inc bought a new position in Anavex Life Sciences during the 3rd quarter valued at approximately $76,000. Finally, BNP Paribas Financial Markets raised its stake in Anavex Life Sciences by 97.0% during the third quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company's stock valued at $86,000 after buying an additional 7,421 shares during the last quarter. 31.55% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading

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