Anavex Life Sciences (NASDAQ:AVXL) Receives Buy Rating from HC Wainwright

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $42.00 target price on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 337.04% from the company’s current price.

Several other research firms have also recently commented on AVXL. Wall Street Zen cut Anavex Life Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 23rd. D. Boral Capital reaffirmed a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a research note on Wednesday, October 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Anavex Life Sciences in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Anavex Life Sciences has an average rating of “Hold” and an average price target of $44.00.

Anavex Life Sciences Stock Down 3.5%

Anavex Life Sciences stock opened at $9.61 on Tuesday. The firm’s 50-day simple moving average is $9.69 and its 200 day simple moving average is $9.33. Anavex Life Sciences has a 52 week low of $5.03 and a 52 week high of $14.44. The firm has a market capitalization of $825.44 million, a PE ratio of -16.86 and a beta of 0.83.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). On average, research analysts expect that Anavex Life Sciences will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

A number of large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Anavex Life Sciences by 69.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,673 shares of the biotechnology company’s stock valued at $286,000 after acquiring an additional 10,925 shares during the last quarter. GAMMA Investing LLC grew its position in Anavex Life Sciences by 1,839.7% in the 1st quarter. GAMMA Investing LLC now owns 24,033 shares of the biotechnology company’s stock worth $206,000 after purchasing an additional 22,794 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in shares of Anavex Life Sciences by 15.0% during the first quarter. SeaCrest Wealth Management LLC now owns 17,600 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 2,300 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Anavex Life Sciences by 197.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 248,139 shares of the biotechnology company’s stock valued at $2,129,000 after acquiring an additional 164,792 shares during the period. Finally, Yukon Wealth Management Inc. bought a new stake in shares of Anavex Life Sciences in the 1st quarter valued at approximately $147,000. 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.