HC Wainwright Reaffirms Buy Rating for Anavex Life Sciences (NASDAQ:AVXL)

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $42.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 356.03% from the company’s current price.

Separately, D. Boral Capital reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Anavex Life Sciences in a research note on Monday, January 13th.

Anavex Life Sciences Stock Performance

Shares of NASDAQ:AVXL opened at $9.21 on Tuesday. Anavex Life Sciences has a 52 week low of $3.25 and a 52 week high of $14.44. The firm has a market cap of $781.19 million, a PE ratio of -17.71 and a beta of 0.70. The firm’s fifty day moving average is $9.73 and its 200-day moving average is $7.27.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. Sell-side analysts forecast that Anavex Life Sciences will post -0.73 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in Anavex Life Sciences by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 34,844 shares of the biotechnology company’s stock valued at $374,000 after purchasing an additional 7,138 shares in the last quarter. Prairiewood Capital LLC acquired a new position in Anavex Life Sciences during the 4th quarter worth approximately $223,000. Carnegie Investment Counsel boosted its holdings in Anavex Life Sciences by 4.7% in the fourth quarter. Carnegie Investment Counsel now owns 76,778 shares of the biotechnology company’s stock worth $825,000 after acquiring an additional 3,445 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Anavex Life Sciences in the 4th quarter valued at $164,000. Finally, Fiduciary Alliance LLC acquired a new position in shares of Anavex Life Sciences during the fourth quarter valued at about $119,000. Institutional investors and hedge funds own 31.55% of the company’s stock.

Anavex Life Sciences Company Profile

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.