Anavex Life Sciences (NASDAQ:AVXL) Share Price Passes Above 50-Day Moving Average – What’s Next?

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.35 and traded as high as $5.18. Anavex Life Sciences shares last traded at $5.00, with a volume of 1,499,518 shares.

Analysts Set New Price Targets

Several analysts recently issued reports on AVXL shares. Wall Street Zen raised shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Anavex Life Sciences in a research report on Monday, December 29th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Anavex Life Sciences in a research note on Tuesday, February 10th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $24.00 price target on shares of Anavex Life Sciences in a research note on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Anavex Life Sciences presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Anavex Life Sciences Stock Down 2.3%

The firm’s 50-day moving average price is $4.39 and its 200 day moving average price is $6.20. The firm has a market cap of $430.92 million, a P/E ratio of -10.11 and a beta of 1.08.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings data on Monday, February 9th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. On average, equities analysts predict that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

Institutional Trading of Anavex Life Sciences

Several institutional investors have recently modified their holdings of the company. State of Wyoming acquired a new stake in Anavex Life Sciences during the second quarter valued at approximately $26,000. AlphaQuest LLC acquired a new stake in shares of Anavex Life Sciences during the 3rd quarter valued at $29,000. Quarry LP bought a new stake in shares of Anavex Life Sciences during the 3rd quarter worth $36,000. HBW Advisory Services LLC acquired a new position in shares of Anavex Life Sciences in the 4th quarter worth $40,000. Finally, BNC Wealth Management LLC grew its holdings in shares of Anavex Life Sciences by 19.5% in the 4th quarter. BNC Wealth Management LLC now owns 12,250 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

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.