Anavex Life Sciences (NASDAQ:AVXL) Posts Earnings Results, Beats Estimates By $0.01 EPS

Anavex Life Sciences (NASDAQ:AVXL) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01, FiscalAI reports.

Anavex Life Sciences Price Performance

NASDAQ AVXL opened at $2.75 on Friday. The company has a fifty day moving average price of $2.61 and a 200-day moving average price of $3.45. Anavex Life Sciences has a 1 year low of $2.26 and a 1 year high of $12.68. The firm has a market cap of $254.84 million, a price-to-earnings ratio of -7.05 and a beta of 1.14.

Institutional Investors Weigh In On Anavex Life Sciences

A number of hedge funds have recently made changes to their positions in AVXL. Rafferty Asset Management LLC grew its position in shares of Anavex Life Sciences by 44.2% during the 4th quarter. Rafferty Asset Management LLC now owns 156,301 shares of the biotechnology company’s stock valued at $556,000 after acquiring an additional 47,873 shares during the period. Wells Fargo & Company MN boosted its holdings in Anavex Life Sciences by 17.5% in the 4th quarter. Wells Fargo & Company MN now owns 133,820 shares of the biotechnology company’s stock worth $476,000 after buying an additional 19,950 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Anavex Life Sciences by 10.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,525 shares of the biotechnology company’s stock worth $434,000 after acquiring an additional 4,869 shares during the period. BNP Paribas Financial Markets lifted its holdings in Anavex Life Sciences by 9.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 33,779 shares of the biotechnology company’s stock worth $301,000 after purchasing an additional 3,035 shares in the last quarter. Finally, Alps Advisors Inc. lifted its holdings in shares of Anavex Life Sciences by 90.0% in the fourth quarter. Alps Advisors Inc. now owns 73,361 shares of the biotechnology company’s stock worth $261,000 after buying an additional 34,755 shares in the last quarter. 31.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVXL. Rodman & Renshaw assumed coverage on shares of Anavex Life Sciences in a research report on Monday, May 4th. They set a “buy” rating and a $20.00 price objective for the company. Weiss Ratings downgraded Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.33.

About Anavex Life Sciences

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.