Anavex Life Sciences (NASDAQ:AVXL) Sees Strong Trading Volume - What's Next?

Key Points

• Anavex Life Sciences (NASDAQ: AVXL) saw a decline in trading volume, with 932,267 shares traded, down 16% from the previous session.
• Analysts from Wall Street have mixed ratings on the stock, with ratings ranging from a "sell" by Wall Street Zen to a "buy" from HC Wainwright and D. Boral Capital, with a consensus price target around $44.00.
• The company reported a quarterly earnings miss, with earnings per share at ($0.16), which fell short of the expected ($0.13) according to analysts' consensus.

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) shares saw an uptick in trading volume on Thursday . 932,267 shares traded hands during trading, a decline of 16% from the previous session's volume of 1,105,073 shares.The stock last traded at $9.46 and had previously closed at $9.01.

Wall Street Analysts Forecast Growth

AVXL has been the topic of several research reports. Wall Street Zen downgraded Anavex Life Sciences from a "hold" rating to a "sell" rating in a research report on Saturday, August 23rd. HC Wainwright restated a "buy" rating and issued a $42.00 price objective on shares of Anavex Life Sciences in a report on Wednesday, September 10th. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $46.00 target price on shares of Anavex Life Sciences in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $44.00.

Anavex Life Sciences Price Performance

The stock has a market cap of $779.02 million, a price-to-earnings ratio of -15.91 and a beta of 0.83. The firm has a fifty day moving average of $9.85 and a 200 day moving average of $9.33.

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 analysts' consensus estimates of ($0.13) by ($0.03). Research analysts anticipate that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Anavex Life Sciences

A number of institutional investors have recently bought and sold shares of AVXL. Delta Asset Management LLC TN increased its position in shares of Anavex Life Sciences by 9.1% during the second quarter. Delta Asset Management LLC TN now owns 12,000 shares of the biotechnology company's stock worth $111,000 after acquiring an additional 1,000 shares during the period. Ameriprise Financial Inc. grew its stake in Anavex Life Sciences by 1.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 85,990 shares of the biotechnology company's stock worth $793,000 after purchasing an additional 1,233 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Anavex Life Sciences by 22.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,535 shares of the biotechnology company's stock worth $79,000 after purchasing an additional 1,559 shares during the period. SeaCrest Wealth Management LLC raised its position in Anavex Life Sciences by 11.9% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 19,700 shares of the biotechnology company's stock valued at $182,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in Anavex Life Sciences by 17.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 18,234 shares of the biotechnology company's stock valued at $168,000 after purchasing an additional 2,716 shares in the last quarter. 31.55% of the stock is owned by hedge funds and other institutional investors.

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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