Anavex Life Sciences (NASDAQ:AVXL) Trading Down 4.9% - Should You Sell?

Key Points

• Anavex Life Sciences shares fell 4.9% to $8.89, significantly lower than its previous close of $9.35, with trading volume dropping 92% below average.
• Analysts have mixed opinions on Anavex Life Sciences, with two recommending a "buy" and one a "sell", while the average target price stands at $44.00.
• The biotechnology firm reported losses of $0.16 per share in its last earnings release, underperforming against analyst expectations of a $0.13 loss.

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) shares fell 4.9% on Thursday . The stock traded as low as $9.05 and last traded at $8.89. 87,419 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,126,738 shares. The stock had previously closed at $9.35.

Analysts Set New Price Targets

AVXL has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $42.00 price objective on shares of Anavex Life Sciences in a research report on Tuesday, October 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Anavex Life Sciences in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Anavex Life Sciences from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $46.00 price target on shares of Anavex Life Sciences in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Anavex Life Sciences presently has an average rating of "Hold" and an average price target of $44.00.

Anavex Life Sciences Stock Down 6.8%

The firm's 50 day simple moving average is $9.26 and its 200-day simple moving average is $9.35. The company has a market capitalization of $748.10 million, a PE ratio of -15.25 and a beta of 0.83.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last posted its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). As a group, sell-side analysts anticipate that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

Large investors have recently modified their holdings of the stock. State of Wyoming acquired a new stake in shares of Anavex Life Sciences in the second quarter valued at about $26,000. SBI Securities Co. Ltd. boosted its holdings in Anavex Life Sciences by 470.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 4,879 shares of the biotechnology company's stock worth $45,000 after acquiring an additional 4,023 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Anavex Life Sciences by 22.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,535 shares of the biotechnology company's stock worth $79,000 after acquiring an additional 1,559 shares during the period. Kovack Advisors Inc. acquired a new position in shares of Anavex Life Sciences during the second quarter worth $93,000. Finally, Weaver Consulting Group acquired a new position in shares of Anavex Life Sciences during the second quarter worth $94,000. Institutional investors and hedge funds 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.

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