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 reiterated by stock analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $42.00 target price on the biotechnology company's stock. HC Wainwright's target price would indicate a potential upside of 345.62% from the stock's previous close.

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

Anavex Life Sciences Stock Down 1.1%

Shares of NASDAQ:AVXL traded down $0.11 during midday trading on Friday, reaching $9.43. 395,073 shares of the company were exchanged, compared to its average volume of 1,111,502. The firm has a market cap of $809.51 million, a PE ratio of -16.54 and a beta of 0.80. Anavex Life Sciences has a fifty-two week low of $4.93 and a fifty-two week high of $14.44. The stock has a fifty day simple moving average of $10.51 and a two-hundred day simple moving average of $9.24.

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 (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03). As a group, analysts forecast that Anavex Life Sciences will post -0.69 earnings per share for the current year.

Institutional Trading of Anavex Life Sciences

Large investors have recently made changes to their positions in the company. Invesco Ltd. boosted its stake in Anavex Life Sciences by 2,419.8% in the 4th quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company's stock worth $6,606,000 after purchasing an additional 590,639 shares during the period. LPL Financial LLC boosted its stake in Anavex Life Sciences by 482.1% in the 1st quarter. LPL Financial LLC now owns 546,626 shares of the biotechnology company's stock worth $4,690,000 after purchasing an additional 452,723 shares during the period. Vanguard Group Inc. lifted its position in Anavex Life Sciences by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 4,902,246 shares of the biotechnology company's stock worth $42,061,000 after buying an additional 221,802 shares in the last quarter. Nuveen LLC bought a new stake in Anavex Life Sciences during the 1st quarter worth about $1,622,000. Finally, Private Advisor Group LLC lifted its position in Anavex Life Sciences by 617.5% during the 1st quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company's stock worth $1,842,000 after buying an additional 184,800 shares in the last quarter. 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.