Anavex Life Sciences (NASDAQ:AVXL) Trading Down 4.6% - What's Next?

Key Points

• Anavex Life Sciences Corp. stock has decreased by 4.6%, trading at $8.84, a significant drop from its previous close of $9.27.
• Recent analyst ratings show a mixed response, with D. Boral Capital maintaining a "buy" rating with a target price of $46, while Wall Street Zen downgraded the stock to "sell."
• Institutional investors have shown increased interest, with stakeholders like Vanguard Group and Private Advisor Group significantly raising their holdings in the company.

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report)'s stock price traded down 4.6% during mid-day trading on Monday . The stock traded as low as $8.81 and last traded at $8.84. 325,495 shares changed hands during trading, a decline of 71% from the average session volume of 1,131,346 shares. The stock had previously closed at $9.27.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. D. Boral Capital restated a "buy" rating and set a $46.00 target price on shares of Anavex Life Sciences in a research report on Wednesday, October 1st. 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 set a $42.00 target price on shares of Anavex Life Sciences in a research report on Tuesday, October 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Anavex Life Sciences in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $44.00.

Anavex Life Sciences Stock Down 7.6%

The company has a market cap of $735.34 million, a PE ratio of -15.04 and a beta of 0.83. The stock has a 50-day moving average of $9.56 and a 200-day moving average of $9.33.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03). Research analysts expect that Anavex Life Sciences Corp. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Anavex Life Sciences by 4.7% in the first quarter. Vanguard Group Inc. now owns 4,902,246 shares of the biotechnology company's stock valued at $42,061,000 after acquiring an additional 221,802 shares during the last quarter. Private Advisor Group LLC increased its stake in Anavex Life Sciences by 617.5% in the first quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company's stock valued at $1,842,000 after acquiring an additional 184,800 shares during the last quarter. Swiss National Bank bought a new position in Anavex Life Sciences in the first quarter valued at $1,411,000. Arizona State Retirement System bought a new position in Anavex Life Sciences in the first quarter valued at $208,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in 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 valued at $2,129,000 after acquiring an additional 164,792 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.