Anavex Life Sciences’ (AVXL) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a research note published on Wednesday morning,Benzinga reports. They currently have a $40.00 price target on the biotechnology company’s stock.

Separately, D. Boral Capital reiterated a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a report on Monday, November 25th.

Anavex Life Sciences Stock Up 4.8 %

NASDAQ:AVXL opened at $9.46 on Wednesday. The business’s 50-day moving average price is $6.67 and its 200 day moving average price is $5.67. Anavex Life Sciences has a 52-week low of $3.25 and a 52-week high of $10.45. The firm has a market cap of $802.21 million, a P/E ratio of -18.92 and a beta of 0.60.

Institutional Investors Weigh In On Anavex Life Sciences

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in Anavex Life Sciences by 483.8% in the 2nd quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company’s stock worth $1,968,000 after purchasing an additional 386,537 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Anavex Life Sciences by 87.5% during the first quarter. Virtu Financial LLC now owns 40,612 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 18,954 shares during the period. Nwam LLC purchased a new stake in shares of Anavex Life Sciences in the 3rd quarter valued at approximately $5,172,000. Deerfield Management Company L.P. Series C purchased a new stake in shares of Anavex Life Sciences in the 2nd quarter valued at approximately $346,000. Finally, Vanguard Group Inc. boosted its stake in Anavex Life Sciences by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 4,414,682 shares of the biotechnology company’s stock worth $22,471,000 after purchasing an additional 54,034 shares during the period. 31.55% of the stock is owned by hedge funds and other institutional investors.

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.