Anavex Life Sciences (NASDAQ:AVXL) Stock Price Up 5.2% – Time to Buy?

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares shot up 5.2% during trading on Monday . The stock traded as high as $9.13 and last traded at $9.13. 340,574 shares were traded during trading, a decline of 73% from the average session volume of 1,264,724 shares. The stock had previously closed at $8.67.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVXL. HC Wainwright restated a “buy” rating and issued a $42.00 price objective on shares of Anavex Life Sciences in a research report on Tuesday, February 18th. D. Boral Capital reiterated a “buy” rating and issued a $46.00 price objective on shares of Anavex Life Sciences in a research report on Wednesday, February 12th.

Anavex Life Sciences Trading Up 3.7 %

The business’s fifty day simple moving average is $9.59 and its 200 day simple moving average is $7.94. The stock has a market cap of $764.73 million, a price-to-earnings ratio of -16.35 and a beta of 0.94.

Anavex Life Sciences (NASDAQ:AVXL) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. As a group, research analysts anticipate that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of Anavex Life Sciences by 70.4% during 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 during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Anavex Life Sciences during the fourth quarter worth about $243,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Anavex Life Sciences by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company’s stock worth $3,783,000 after buying an additional 14,892 shares in the last quarter. Franklin Resources Inc. raised its position 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 valued at $317,000 after buying an additional 3,674 shares during the last quarter. Finally, Nwam LLC acquired a new position in Anavex Life Sciences during the 3rd quarter worth approximately $5,172,000. 31.55% of the stock is currently owned by 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.