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

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Friday, Benzinga reports. They currently have a $40.00 price objective on the biotechnology company’s stock.

Anavex Life Sciences Stock Performance

Shares of AVXL opened at $3.88 on Friday. The firm has a market cap of $318.60 million, a P/E ratio of -7.19 and a beta of 0.66. Anavex Life Sciences has a 52 week low of $3.25 and a 52 week high of $10.45. The firm’s 50-day simple moving average is $4.45 and its 200 day simple moving average is $5.86.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings data on Wednesday, February 7th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. As a group, equities analysts forecast that Anavex Life Sciences will post -0.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Christopher U. Missling sold 73,380 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $5.11, for a total value of $374,971.80. Following the completion of the sale, the chief executive officer now owns 1,250,210 shares of the company’s stock, valued at $6,388,573.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Anavex Life Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Orion Capital Management LLC acquired a new position in Anavex Life Sciences in the 3rd quarter valued at $59,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Anavex Life Sciences by 351.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,498 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 7,395 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Anavex Life Sciences during the 4th quarter worth $93,000. Tower Research Capital LLC TRC raised its holdings in shares of Anavex Life Sciences by 32.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,637 shares of the biotechnology company’s stock worth $99,000 after buying an additional 2,594 shares in the last quarter. Finally, Hayek Kallen Investment Management acquired a new position in shares of Anavex Life Sciences during the 4th quarter worth $99,000. 31.55% of the stock is currently owned by institutional investors and hedge funds.

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.