Anavex Life Sciences (NASDAQ:AVXL) Trading Up 17.7% - Should You Buy?

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) shares rose 17.7% on Wednesday . The stock traded as high as $12.95 and last traded at $13.15. Approximately 1,097,797 shares changed hands during trading, a decline of 7% from the average daily volume of 1,186,202 shares. The stock had previously closed at $11.17.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AVXL shares. HC Wainwright reissued a "buy" rating and issued a $42.00 price target on shares of Anavex Life Sciences in a report on Monday, April 7th. D. Boral Capital reissued a "buy" rating and set a $46.00 price objective on shares of Anavex Life Sciences in a report on Monday, April 7th.

Anavex Life Sciences Price Performance

The business has a 50 day moving average price of $9.20 and a two-hundred day moving average price of $9.16. The stock has a market cap of $1.04 billion, a PE ratio of -22.17 and a beta of 0.72.

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

Institutional Investors Weigh In On Anavex Life Sciences

Large investors have recently bought and sold shares of the business. Invesco Ltd. grew its stake in shares of Anavex Life Sciences by 2,419.8% during the 4th quarter. Invesco Ltd. now owns 615,048 shares of the biotechnology company's stock valued at $6,606,000 after purchasing an additional 590,639 shares during the period. LPL Financial LLC lifted its position in shares of Anavex Life Sciences by 482.1% during the 1st quarter. LPL Financial LLC now owns 546,626 shares of the biotechnology company's stock valued at $4,690,000 after buying an additional 452,723 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Anavex Life Sciences by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 4,902,246 shares of the biotechnology company's stock worth $42,061,000 after purchasing an additional 221,802 shares in the last quarter. Nuveen LLC purchased a new position in Anavex Life Sciences in the 1st quarter worth approximately $1,622,000. Finally, Private Advisor Group LLC lifted its holdings in Anavex Life Sciences by 617.5% in the 1st quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company's stock worth $1,842,000 after purchasing an additional 184,800 shares in the last quarter. 31.55% of the stock is currently 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.