Anavex Life Sciences (NASDAQ:AVXL) Trading Down 5.8% – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL) was down 5.8% on Monday . The stock traded as low as $8.46 and last traded at $8.73. Approximately 1,229,957 shares changed hands during trading, a decline of 32% from the average daily volume of 1,803,533 shares. The stock had previously closed at $9.27.

Analysts Set New Price Targets

AVXL has been the topic of several research analyst reports. D. Boral Capital restated a “buy” rating and issued a $46.00 price objective on shares of Anavex Life Sciences in a research note on Tuesday, January 28th. HC Wainwright restated a “buy” rating and issued a $42.00 price target on shares of Anavex Life Sciences in a research report on Tuesday, January 28th.

Anavex Life Sciences Trading Down 6.8 %

The company’s fifty day simple moving average is $9.99 and its 200-day simple moving average is $7.57. The stock has a market cap of $732.84 million, a P/E ratio of -16.62 and a beta of 0.69.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.03. As a group, analysts expect that Anavex Life Sciences Corp. will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Anavex Life Sciences

Several hedge funds have recently modified their holdings of the company. Barclays PLC grew its stake in shares of Anavex Life Sciences by 70.4% during the third quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock valued at $882,000 after purchasing an additional 64,101 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Anavex Life Sciences by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company’s stock worth $3,783,000 after buying an additional 14,892 shares during the last quarter. Franklin Resources Inc. increased its stake 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 acquiring an additional 3,674 shares during the last quarter. Nwam LLC acquired a new stake in shares of Anavex Life Sciences in the 3rd quarter valued at approximately $5,172,000. Finally, Geode Capital Management LLC boosted its stake in Anavex Life Sciences by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock worth $10,699,000 after acquiring an additional 51,946 shares during the last quarter. 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.