Anavex Life Sciences (NASDAQ:AVXL) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.17 and traded as high as $10.93. Anavex Life Sciences shares last traded at $10.76, with a volume of 729,059 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVXL. D. Boral Capital reissued a "buy" rating and set a $46.00 price objective on shares of Anavex Life Sciences in a research note on Monday, April 7th. HC Wainwright reissued a "buy" rating and set a $42.00 price objective on shares of Anavex Life Sciences in a research note on Monday, April 7th.

Anavex Life Sciences Stock Up 3.9%

The company has a market cap of $954.44 million, a PE ratio of -20.33 and a beta of 0.72. The stock's 50 day simple moving average is $8.65 and its two-hundred day simple moving average is $9.17.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. During the same quarter in the previous year, the company posted ($0.13) EPS. Analysts forecast that Anavex Life Sciences Corp. will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Anavex Life Sciences

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in shares of Anavex Life Sciences in the fourth quarter worth $1,704,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Anavex Life Sciences by 197.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 248,139 shares of the biotechnology company's stock worth $2,129,000 after acquiring an additional 164,792 shares in the last quarter. Heartland Advisors Inc. acquired a new stake in shares of Anavex Life Sciences in the fourth quarter worth $1,674,000. PVG Asset Management Corp increased its position in shares of Anavex Life Sciences by 503.5% in the fourth quarter. PVG Asset Management Corp now owns 78,490 shares of the biotechnology company's stock worth $843,000 after acquiring an additional 65,485 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Anavex Life Sciences in the fourth quarter worth $967,000. Hedge funds and other institutional investors own 31.55% of the company's stock.

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.