Private Advisor Group LLC Has $1.84 Million Holdings in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Key Points

• Private Advisor Group LLC significantly increased its stake in Anavex Life Sciences Corp. by 617.5%, acquiring an additional 184,800 shares during the first quarter.
• Invesco Ltd. also boosted its stake by an extraordinary 2,419.8%, now owning 615,048 shares, indicating strong institutional interest in the company.
• Analysts at HC Wainwright and D. Boral Capital issued "buy" ratings with price targets of $42.00 and $46.00, respectively, indicating optimistic forecasts for the stock's future performance.

Private Advisor Group LLC boosted its holdings in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) by 617.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 214,725 shares of the biotechnology company's stock after purchasing an additional 184,800 shares during the period. Private Advisor Group LLC owned about 0.25% of Anavex Life Sciences worth $1,842,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVXL. Nwam LLC increased its holdings in shares of Anavex Life Sciences by 9.6% during the first quarter. Nwam LLC now owns 1,000,351 shares of the biotechnology company's stock worth $8,583,000 after buying an additional 87,300 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Anavex Life Sciences by 1.6% in the fourth quarter. Northern Trust Corp now owns 706,901 shares of the biotechnology company's stock valued at $7,592,000 after purchasing an additional 10,938 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Anavex Life Sciences by 2,419.8% in the fourth 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 in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of 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 purchasing an additional 164,792 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Anavex Life Sciences by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 223,131 shares of the biotechnology company's stock valued at $1,914,000 after purchasing an additional 2,882 shares in the last quarter. Institutional investors own 31.55% of the company's stock.

Anavex Life Sciences Trading Down 4.8%

Shares of NASDAQ:AVXL traded down $0.61 during mid-day trading on Friday, reaching $12.13. The stock had a trading volume of 1,260,233 shares, compared to its average volume of 1,178,675. The firm has a market cap of $1.04 billion, a PE ratio of -22.05 and a beta of 0.72. The firm has a 50 day simple moving average of $9.37 and a two-hundred day simple moving average of $9.13. Anavex Life Sciences Corp. has a twelve month low of $4.93 and a twelve month high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. During the same quarter in the prior year, the firm earned ($0.13) EPS. On average, equities analysts anticipate that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Anavex Life Sciences

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.