Pier Capital LLC Acquires Shares of 441,915 Anavex Life Sciences Corp. (NASDAQ:AVXL)

Pier Capital LLC bought a new stake in Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 441,915 shares of the biotechnology company's stock, valued at approximately $4,746,000. Pier Capital LLC owned approximately 0.52% of Anavex Life Sciences at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Orion Capital Management LLC raised its position in shares of Anavex Life Sciences by 666.7% during the third 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 during the period. PVG Asset Management Corp acquired a new position in shares of Anavex Life Sciences during the third quarter valued at about $74,000. Atria Investments Inc bought a new stake in shares of Anavex Life Sciences during the third quarter worth about $76,000. BNP Paribas Financial Markets increased its position in shares of 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 worth $86,000 after acquiring an additional 7,421 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of Anavex Life Sciences in the 3rd quarter worth about $102,000. 31.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. HC Wainwright reissued a "buy" rating and set a $42.00 price objective on shares of Anavex Life Sciences in a report on Tuesday, February 18th. D. Boral Capital restated a "buy" rating and set a $46.00 price objective on shares of Anavex Life Sciences in a research note on Wednesday, February 12th.

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Anavex Life Sciences Stock Performance

NASDAQ:AVXL traded down $0.82 on Friday, hitting $8.72. The stock had a trading volume of 1,556,308 shares, compared to its average volume of 1,249,093. Anavex Life Sciences Corp. has a 1 year low of $3.25 and a 1 year high of $14.44. The firm's fifty day simple moving average is $9.01 and its two-hundred day simple moving average is $8.30. The stock has a market cap of $741.76 million, a P/E ratio of -15.85 and a beta of 0.94.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.03. Equities research analysts predict that Anavex Life Sciences Corp. will post -0.69 EPS for the current year.

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.