Arizona State Retirement System Makes New Investment in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Arizona State Retirement System purchased a new stake in Anavex Life Sciences Corp. (NASDAQ:AVXL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 24,297 shares of the biotechnology company's stock, valued at approximately $208,000.

Several other large investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in Anavex Life Sciences by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 223,131 shares of the biotechnology company's stock worth $1,914,000 after buying an additional 2,882 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Anavex Life Sciences during the 1st quarter valued at $194,000. Yukon Wealth Management Inc. purchased a new stake in Anavex Life Sciences in the first quarter worth $147,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Anavex Life Sciences by 197.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 248,139 shares of the biotechnology company's stock worth $2,129,000 after buying an additional 164,792 shares in the last quarter. Finally, SeaCrest Wealth Management LLC grew its position in shares of Anavex Life Sciences by 15.0% during the 1st quarter. SeaCrest Wealth Management LLC now owns 17,600 shares of the biotechnology company's stock worth $151,000 after buying an additional 2,300 shares in the last quarter. Institutional investors own 31.55% of the company's stock.

Analysts Set New Price Targets

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

Anavex Life Sciences Stock Up 0.1%

Shares of NASDAQ:AVXL opened at $11.17 on Wednesday. The company has a market cap of $954.14 million, a P/E ratio of -20.31 and a beta of 0.72. Anavex Life Sciences Corp. has a 52 week low of $4.93 and a 52 week high of $14.44. The business has a fifty day simple moving average of $9.10 and a 200-day simple moving average of $9.13.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. During the same quarter in the previous year, the company earned ($0.13) EPS. Sell-side analysts expect that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.

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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