Anavex Life Sciences (NASDAQ:AVXL) Stock Price Down 11.3% – What’s Next?

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s stock price was down 11.3% during mid-day trading on Wednesday . The company traded as low as $11.92 and last traded at $11.94. Approximately 957,544 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 2,266,342 shares. The stock had previously closed at $13.46.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AVXL shares. HC Wainwright lifted their price objective on shares of Anavex Life Sciences from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 26th. D. Boral Capital restated a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a research note on Monday, December 23rd.

Anavex Life Sciences Stock Down 13.4 %

The company has a market capitalization of $988.11 million, a price-to-earnings ratio of -23.30 and a beta of 0.70. The stock has a 50 day simple moving average of $9.19 and a 200 day simple moving average of $6.86.

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

Institutional Trading of Anavex Life Sciences

A number of hedge funds have recently made changes to their positions in AVXL. Barclays PLC boosted its holdings in Anavex Life Sciences by 70.4% in the third quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock worth $882,000 after purchasing an additional 64,101 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 valued at $3,783,000 after acquiring an additional 14,892 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Anavex Life Sciences by 483.8% in the 2nd quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company’s stock valued at $1,968,000 after acquiring an additional 386,537 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Anavex Life Sciences by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock worth $317,000 after purchasing an additional 3,674 shares during the last quarter. Finally, Nwam LLC acquired a new position in Anavex Life Sciences during the third quarter valued at approximately $5,172,000. 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.