Anavex Life Sciences (NASDAQ:AVXL) Releases Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Anavex Life Sciences reported a quarterly loss of $0.06 per share, beating analysts’ consensus estimate of a $0.07 loss by $0.01.
• Shares rose $0.10 to $2.58, while the stock remains near its one-year low of $2.26 and well below its one-year high of $12.68. Institutional investors own approximately 31.55% of the company.
• Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $21.33; the company’s lead drug candidate, blarcamesine, is being studied for Alzheimer’s disease and Parkinson’s disease dementia.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01, FiscalAI reports.

Anavex Life Sciences Stock Performance

Shares of NASDAQ:AVXL traded up $0.10 on Thursday, hitting $2.58. 838,828 shares of the company's stock were exchanged, compared to its average volume of 1,337,396. Anavex Life Sciences has a 1-year low of $2.26 and a 1-year high of $12.68. The company has a market capitalization of $239.55 million, a PE ratio of -5.62 and a beta of 1.14. The firm's 50-day moving average is $2.61 and its 200 day moving average is $3.46.

Institutional Investors Weigh In On Anavex Life Sciences

Several institutional investors have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in Anavex Life Sciences in the second quarter valued at approximately $26,000. Quarry LP acquired a new stake in Anavex Life Sciences during the third quarter worth approximately $36,000. Aigen Investment Management LP purchased a new stake in shares of Anavex Life Sciences during the 4th quarter worth approximately $44,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Anavex Life Sciences during the 4th quarter worth approximately $46,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Anavex Life Sciences by 11,540.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,984 shares of the biotechnology company's stock valued at $62,000 after buying an additional 6,924 shares in the last quarter. Hedge funds and other institutional investors own 31.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AVXL shares. Rodman & Renshaw began coverage on Anavex Life Sciences in a report on Monday, May 4th. They set a "buy" rating and a $20.00 price target on the stock. Weiss Ratings cut Anavex Life Sciences from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $21.33.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company's lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer's disease and Parkinson's disease dementia.

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