Anavex Life Sciences (NASDAQ:AVXL) Issues Quarterly Earnings Results

Key Points

• Anavex Life Sciences reported a quarterly loss of ($0.16) EPS, missing the analysts’ consensus estimate of ($0.13) by ($0.03).
• The stock is trading down 3.6%, hitting $10.95, with a market capitalization of approximately $934.92 million.
• Analyst D. Boral Capital has reissued a "buy" rating on Anavex Life Sciences with a target price of $46.00.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) announced its quarterly earnings results on Tuesday. The biotechnology company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03), Zacks reports.

Anavex Life Sciences Trading Down 3.6%

AVXL stock traded down $0.41 during mid-day trading on Tuesday, hitting $10.95. The stock had a trading volume of 1,038,305 shares, compared to its average volume of 1,128,282. The firm has a fifty day simple moving average of $10.14 and a 200 day simple moving average of $9.19. The firm has a market capitalization of $934.92 million, a P/E ratio of -20.09 and a beta of 0.80. Anavex Life Sciences has a 52 week low of $4.93 and a 52 week high of $14.44.

Wall Street Analyst Weigh In

Separately, D. Boral Capital reissued a "buy" rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research report on Monday, August 4th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AVXL. Rhumbline Advisers lifted its position in shares of Anavex Life Sciences by 6.1% during the 2nd quarter. Rhumbline Advisers now owns 128,370 shares of the biotechnology company's stock worth $1,184,000 after buying an additional 7,377 shares during the last quarter. Legal & General Group Plc increased its position in shares of Anavex Life Sciences by 19.0% during the second quarter. Legal & General Group Plc now owns 86,972 shares of the biotechnology company's stock worth $802,000 after buying an additional 13,886 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Anavex Life Sciences by 10.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,525 shares of the biotechnology company's stock worth $434,000 after acquiring an additional 4,869 shares in the last quarter. 31.55% of the stock is owned by institutional investors.

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.

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