Anavex Life Sciences (NASDAQ:AVXL) Shares Up 8.2% – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s share price traded up 8.2% during mid-day trading on Thursday . The company traded as high as $6.18 and last traded at $6.18. 364,465 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 1,129,583 shares. The stock had previously closed at $5.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. EF Hutton Acquisition Co. I raised shares of Anavex Life Sciences to a “strong-buy” rating in a research report on Monday, July 22nd. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Anavex Life Sciences in a research note on Friday, October 18th.

Anavex Life Sciences Price Performance

The company’s 50 day simple moving average is $5.56 and its 200 day simple moving average is $5.02. The company has a market capitalization of $589.95 million, a PE ratio of -12.36 and a beta of 0.61.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. During the same quarter last year, the business earned ($0.14) EPS. On average, equities analysts forecast that Anavex Life Sciences Corp. will post -0.55 EPS for the current year.

Institutional Trading of Anavex Life Sciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Balentine LLC acquired a new position in Anavex Life Sciences during the third quarter worth approximately $115,000. Forum Financial Management LP acquired a new position in shares of Anavex Life Sciences in the 3rd quarter valued at $200,000. China Universal Asset Management Co. Ltd. raised its position in Anavex Life Sciences by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock valued at $93,000 after purchasing an additional 6,366 shares during the last quarter. Private Advisor Group LLC boosted its stake in Anavex Life Sciences by 10.3% during the 3rd quarter. Private Advisor Group LLC now owns 47,413 shares of the biotechnology company’s stock worth $269,000 after purchasing an additional 4,442 shares during the period. Finally, Creative Planning grew its position in Anavex Life Sciences by 54.2% during the 3rd quarter. Creative Planning now owns 39,871 shares of the biotechnology company’s stock worth $226,000 after purchasing an additional 14,010 shares during the last quarter. 31.55% of the stock is owned by hedge funds and other institutional investors.

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.