Anavex Life Sciences (NASDAQ:AVXL) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $40.00 price objective on the biotechnology company’s stock.

Separately, D. Boral Capital restated a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a report on Monday.

Anavex Life Sciences Trading Down 0.1 %

NASDAQ:AVXL opened at $9.03 on Wednesday. Anavex Life Sciences has a twelve month low of $3.25 and a twelve month high of $10.45. The company has a market cap of $765.74 million, a P/E ratio of -18.10 and a beta of 0.60. The company’s 50-day moving average price is $6.54 and its 200-day moving average price is $5.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Orion Capital Management LLC increased its position in 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 last quarter. PVG Asset Management Corp acquired a new stake in shares of Anavex Life Sciences during the 3rd quarter worth approximately $74,000. Atria Investments Inc purchased a new stake in shares of Anavex Life Sciences during the 3rd quarter valued at approximately $76,000. SG Americas Securities LLC acquired a new position in Anavex Life Sciences in the second quarter valued at approximately $57,000. Finally, BNP Paribas Financial Markets grew its position in Anavex Life Sciences by 97.0% in 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 during the period. Institutional investors and hedge funds own 31.55% of the company’s stock.

About Anavex Life Sciences

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.