HC Wainwright Reiterates “Buy” Rating for Anavex Life Sciences (NASDAQ:AVXL)

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $42.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 381.65% 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 Wednesday, February 12th.

Anavex Life Sciences Price Performance

Shares of NASDAQ AVXL opened at $8.72 on Monday. The stock has a market capitalization of $741.76 million, a price-to-earnings ratio of -15.85 and a beta of 0.94. The firm’s 50 day simple moving average is $9.01 and its 200-day simple moving average is $8.32. Anavex Life Sciences has a 12 month low of $3.25 and a 12 month high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. Analysts anticipate that Anavex Life Sciences will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in Anavex Life Sciences during the third quarter worth about $134,000. Charles Schwab Investment Management Inc. raised its position in shares of Anavex Life Sciences by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company’s stock valued at $3,783,000 after buying an additional 14,892 shares during the period. BNP Paribas Financial Markets lifted its holdings 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 valued at $86,000 after acquiring an additional 7,421 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Anavex Life Sciences in the third quarter worth approximately $102,000. Finally, Barclays PLC increased its stake in Anavex Life Sciences by 70.4% during the third quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock worth $882,000 after acquiring an additional 64,101 shares during the last quarter. Hedge funds and other institutional investors 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.