HC Wainwright Issues Positive Forecast for Anavex Life Sciences (NASDAQ:AVXL) Stock Price

Anavex Life Sciences (NASDAQ:AVXL) had its price target hoisted by investment analysts at HC Wainwright from $40.00 to $42.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 246.82% from the company’s current price.

Separately, D. Boral Capital reaffirmed a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research report on Monday, December 23rd.

Anavex Life Sciences Price Performance

Shares of NASDAQ AVXL opened at $12.11 on Thursday. The business has a 50-day moving average of $8.29 and a two-hundred day moving average of $6.42. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -24.22 and a beta of 0.73. Anavex Life Sciences has a 1 year low of $3.25 and a 1 year high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. As a group, equities research analysts expect that Anavex Life Sciences will post -0.55 earnings per share for the current year.

Institutional Investors Weigh In On Anavex Life Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Anavex Life Sciences by 2.8% during the third quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock worth $10,699,000 after acquiring an additional 51,946 shares during the last quarter. Nwam LLC purchased a new position in Anavex Life Sciences during the 3rd quarter worth $5,172,000. Charles Schwab Investment Management Inc. grew its position in Anavex Life Sciences by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company’s stock worth $3,783,000 after purchasing an additional 14,892 shares during the last quarter. Renaissance Technologies LLC increased its stake in Anavex Life Sciences by 483.8% in the second quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company’s stock valued at $1,968,000 after purchasing an additional 386,537 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Anavex Life Sciences by 17.1% in the second quarter. Bank of New York Mellon Corp now owns 280,556 shares of the biotechnology company’s stock valued at $1,184,000 after buying an additional 40,895 shares during the last quarter. Hedge funds and other 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.