Anavex Life Sciences Corp. $AVXL Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its position in Anavex Life Sciences Corp. by 17.9% during Q1, bringing its total holdings to approximately $1.6 million.
• Anavex Life Sciences has a market cap of $827.98 million, with shares fluctuating between a 12-month low of $4.93 and a high of $14.44.
• Analyst ratings for Anavex indicate an average price target of $44.00, with two firms maintaining "buy" ratings despite varying opinions on the stock's potential.

Wellington Management Group LLP raised its position in Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) by 17.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187,000 shares of the biotechnology company's stock after buying an additional 28,326 shares during the period. Wellington Management Group LLP owned 0.22% of Anavex Life Sciences worth $1,604,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AVXL. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 221,802 shares during the period. Private Advisor Group LLC increased 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 valued at $1,842,000 after buying an additional 184,800 shares during the period. Swiss National Bank acquired a new stake in Anavex Life Sciences during the 1st quarter worth approximately $1,411,000. Arizona State Retirement System bought a new position in Anavex Life Sciences during the 1st quarter worth approximately $208,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Anavex Life Sciences by 197.7% in the 1st 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 in the last quarter. 31.55% of the stock is currently owned by institutional investors and hedge funds.

Anavex Life Sciences Price Performance

NASDAQ AVXL traded up $0.03 during trading on Friday, hitting $9.39. The company's stock had a trading volume of 197,211 shares, compared to its average volume of 1,107,085. The company has a market cap of $806.51 million, a PE ratio of -16.46 and a beta of 0.83. The business's 50 day simple moving average is $10.54 and its 200-day simple moving average is $9.28. Anavex Life Sciences Corp. has a fifty-two week low of $4.93 and a fifty-two week high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last announced its quarterly 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). Analysts expect that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on AVXL shares. Wall Street Zen downgraded shares of Anavex Life Sciences from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. D. Boral Capital reissued a "buy" rating and set a $46.00 price objective on shares of Anavex Life Sciences in a research note on Wednesday, August 27th. Finally, HC Wainwright reissued a "buy" rating and set a $42.00 price objective on shares of Anavex Life Sciences in a research report on Friday, August 22nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Anavex Life Sciences presently has a consensus rating of "Buy" and an average target price of $44.00.

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.