Anavex Life Sciences’ (AVXL) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a research report released on Friday morning, MarketBeat Ratings reports. The firm currently has a $40.00 price objective on the biotechnology company’s stock.

Separately, EF Hutton Acquisition Co. I upgraded Anavex Life Sciences to a “strong-buy” rating in a research note on Monday, July 22nd.

Anavex Life Sciences Stock Up 2.6 %

Anavex Life Sciences stock opened at $5.65 on Friday. The stock’s 50 day moving average is $5.68 and its 200 day moving average is $4.95. The company has a market capitalization of $478.23 million, a P/E ratio of -11.30 and a beta of 0.61. Anavex Life Sciences has a twelve month low of $3.25 and a twelve month high of $10.45.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. During the same quarter in the prior year, the business earned ($0.14) EPS. As a group, equities analysts expect that Anavex Life Sciences will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Anavex Life Sciences

A number of institutional investors have recently modified their holdings of AVXL. Fiduciary Alliance LLC acquired a new stake in shares of Anavex Life Sciences in the 1st quarter worth $67,000. SG Americas Securities LLC acquired a new stake in shares of Anavex Life Sciences in the second quarter valued at about $57,000. EntryPoint Capital LLC increased its stake in Anavex Life Sciences by 371.1% during the 1st quarter. EntryPoint Capital LLC now owns 20,007 shares of the biotechnology company’s stock worth $102,000 after buying an additional 15,760 shares in the last quarter. Virtu Financial LLC acquired a new position in Anavex Life Sciences in the 4th quarter valued at $202,000. Finally, Saxon Interests Inc. purchased a new position in shares of Anavex Life Sciences in the first quarter worth about $136,000. 31.55% of the stock is owned by hedge funds and other institutional investors.

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.