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

Key Points

• HC Wainwright has reaffirmed a "buy" rating for Anavex Life Sciences (NASDAQ:AVXL) with a target price of $42.00, indicating a potential upside of approximately 340% from its previous close.
• Two analysts have given the stock a buy rating, with a consensus average target price of $44.00.
• Anavex reported a quarterly loss of ($0.16) earnings per share, which was below the consensus estimate of ($0.13).

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $42.00 target price on the biotechnology company's stock. HC Wainwright's price objective points to a potential upside of 339.79% from the company's previous close.

Separately, D. Boral Capital restated a "buy" rating and set a $46.00 price objective on shares of Anavex Life Sciences in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $44.00.

Anavex Life Sciences Trading Down 1.3%

AVXL opened at $9.55 on Friday. The company's fifty day moving average price is $10.45 and its two-hundred day moving average price is $9.22. Anavex Life Sciences has a 1-year low of $4.93 and a 1-year high of $14.44. The company has a market cap of $820.29 million, a price-to-earnings ratio of -16.75 and a beta of 0.80.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). As a group, equities analysts forecast that Anavex Life Sciences will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Anavex Life Sciences

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Wyoming purchased a new stake in shares of Anavex Life Sciences in the second quarter valued at about $26,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Anavex Life Sciences in the fourth quarter valued at about $34,000. Tower Research Capital LLC TRC raised its holdings in shares of Anavex Life Sciences by 102.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company's stock valued at $36,000 after purchasing an additional 1,708 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Anavex Life Sciences by 470.0% in the second quarter. SBI Securities Co. Ltd. now owns 4,879 shares of the biotechnology company's stock valued at $45,000 after purchasing an additional 4,023 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Anavex Life Sciences by 22.3% in the second quarter. Ameritas Investment Partners Inc. now owns 8,535 shares of the biotechnology company's stock valued at $79,000 after purchasing an additional 1,559 shares during the last quarter. Hedge funds and other institutional investors 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.

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