Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) rose 9% during trading on Tuesday . The company traded as high as $10.02 and last traded at $10.19. Approximately 500,470 shares were traded during trading, a decline of 55% from the average daily volume of 1,103,239 shares. The stock had previously closed at $9.35.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $42.00 target price on shares of Anavex Life Sciences in a report on Friday, August 22nd. Wall Street Zen cut Anavex Life Sciences from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. Finally, D. Boral Capital reiterated a "buy" rating and set a $46.00 target price on shares of Anavex Life Sciences in a report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Anavex Life Sciences has a consensus rating of "Buy" and an average target price of $44.00.
Check Out Our Latest Report on Anavex Life Sciences
Anavex Life Sciences Stock Performance
The stock has a market cap of $879.94 million, a PE ratio of -17.89 and a beta of 0.83. The stock has a fifty day simple moving average of $10.54 and a two-hundred day simple moving average of $9.30.
Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last released its quarterly earnings results 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). On average, equities analysts predict that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.
Hedge Funds Weigh In On Anavex Life Sciences
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PVG Asset Management Corp boosted its holdings in Anavex Life Sciences by 34.9% in the 2nd quarter. PVG Asset Management Corp now owns 111,445 shares of the biotechnology company's stock worth $1,028,000 after acquiring an additional 28,837 shares during the period. State of Wyoming purchased a new position in shares of Anavex Life Sciences during the 2nd quarter valued at approximately $26,000. Tower Research Capital LLC TRC boosted its stake in shares of Anavex Life Sciences by 215.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,850 shares of the biotechnology company's stock valued at $128,000 after buying an additional 9,463 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Anavex Life Sciences by 1.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 85,990 shares of the biotechnology company's stock valued at $793,000 after buying an additional 1,233 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of Anavex Life Sciences by 29.2% during the 2nd quarter. Raymond James Financial Inc. now owns 22,130 shares of the biotechnology company's stock valued at $204,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 31.55% of the company's stock.
About Anavex Life Sciences
(
Get Free Report)
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.
Further Reading
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