Anavex Life Sciences (NASDAQ:AVXL) Stock Price Down 6.5% - Time to Sell?

Key Points

• Anavex Life Sciences Corp. shares dropped 6.5%, closing at $10.61 after trading as low as $11.32, marking a significant decline in trading volume.
• Analysts at D. Boral Capital maintained a "buy" rating on the stock with a target price of $46.00.
• The biotechnology firm, which focuses on therapeutics for central nervous system diseases, reported earnings per share of ($0.13), exceeding the consensus estimate for the quarter.

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) fell 6.5% on Tuesday . The stock traded as low as $11.32 and last traded at $10.61. 102,772 shares changed hands during trading, a decline of 91% from the average session volume of 1,122,383 shares. The stock had previously closed at $11.35.

Analysts Set New Price Targets

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

Anavex Life Sciences Trading Down 5.1%

The firm has a market cap of $920.40 million, a P/E ratio of -19.51 and a beta of 0.80. The business has a 50-day moving average price of $10.14 and a 200-day moving average price of $9.19.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. During the same quarter in the previous year, the business earned ($0.13) earnings per share. On average, equities analysts anticipate that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVXL. Vermillion Wealth Management Inc. purchased a new stake in shares of Anavex Life Sciences in the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC increased its stake in shares of Anavex Life Sciences by 102.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,383 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 1,708 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Anavex Life Sciences by 470.0% during the second quarter. SBI Securities Co. Ltd. now owns 4,879 shares of the biotechnology company's stock worth $45,000 after purchasing an additional 4,023 shares in the last quarter. Kovack Advisors Inc. purchased a new stake in shares of Anavex Life Sciences during the second quarter worth about $93,000. Finally, Weaver Consulting Group purchased a new stake in shares of Anavex Life Sciences during the second quarter worth approximately $94,000. 31.55% of the stock is currently owned by institutional investors and hedge funds.

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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