Anavex Life Sciences (NASDAQ:AVXL) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) issued its quarterly earnings data on Tuesday. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03, Zacks reports. During the same period last year, the company earned ($0.13) EPS.

Anavex Life Sciences Trading Down 0.6%

Anavex Life Sciences stock traded down $0.05 during midday trading on Friday, reaching $8.32. 652,997 shares of the stock traded hands, compared to its average volume of 1,217,623. The company has a 50-day simple moving average of $8.89 and a two-hundred day simple moving average of $9.11. Anavex Life Sciences has a 12-month low of $3.51 and a 12-month high of $14.44. The firm has a market cap of $710.30 million, a PE ratio of -15.13 and a beta of 0.82.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AVXL. HC Wainwright reissued a "buy" rating and set a $42.00 price objective on shares of Anavex Life Sciences in a research report on Monday, April 7th. 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, April 7th.

Hedge Funds Weigh In On Anavex Life Sciences

An institutional investor recently raised its position in Anavex Life Sciences stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) by 10.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,525 shares of the biotechnology company's stock after acquiring an additional 4,869 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Anavex Life Sciences worth $434,000 at the end of the most recent quarter. 31.55% of the stock is owned by institutional investors and hedge funds.

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.