Anavex Life Sciences (NASDAQ:AVXL) Posts Quarterly Earnings Results, Meets Estimates

Anavex Life Sciences (NASDAQ:AVXL) issued its earnings results on Tuesday. The biotechnology company reported ($0.15) earnings per share for the quarter, hitting the consensus estimate of ($0.15), Yahoo Finance reports. During the same period in the previous year, the business earned ($0.10) earnings per share.

NASDAQ:AVXL traded up $1.02 during mid-day trading on Thursday, hitting $18.99. The company had a trading volume of 1,391,200 shares, compared to its average volume of 2,249,869. The business has a fifty day simple moving average of $19.06 and a 200-day simple moving average of $18.77. Anavex Life Sciences has a 1 year low of $4.51 and a 1 year high of $31.50. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -39.56 and a beta of 0.68.

A number of large investors have recently added to or reduced their stakes in the business. Morgan Stanley raised its position in Anavex Life Sciences by 218.3% in the second quarter. Morgan Stanley now owns 271,673 shares of the biotechnology company’s stock valued at $6,211,000 after purchasing an additional 186,329 shares during the period. UBS Group AG grew its stake in shares of Anavex Life Sciences by 2,688.8% during the third quarter. UBS Group AG now owns 179,013 shares of the biotechnology company’s stock valued at $3,213,000 after acquiring an additional 172,594 shares in the last quarter. Millennium Management LLC grew its stake in shares of Anavex Life Sciences by 28.7% during the third quarter. Millennium Management LLC now owns 127,359 shares of the biotechnology company’s stock valued at $2,286,000 after acquiring an additional 28,391 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Anavex Life Sciences by 58.7% during the second quarter. Wells Fargo & Company MN now owns 90,901 shares of the biotechnology company’s stock valued at $2,078,000 after acquiring an additional 33,617 shares in the last quarter. Finally, LPL Financial LLC grew its stake in shares of Anavex Life Sciences by 75.7% during the third quarter. LPL Financial LLC now owns 20,688 shares of the biotechnology company’s stock valued at $371,000 after acquiring an additional 8,913 shares in the last quarter. 28.86% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on the company. Zacks Investment Research raised Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Wednesday, October 13th. HC Wainwright reaffirmed a “buy” rating and issued a $39.00 target price on shares of Anavex Life Sciences in a research report on Thursday, October 14th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $34.00 target price on shares of Anavex Life Sciences in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $29.89.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound, ANAVEX2-73, is being developed to treat Alzheimer’s and Parkinson’s disease and central nervous system diseases, including Rett syndrome.

Featured Story: What is a capital gains distribution?

Earnings History for Anavex Life Sciences (NASDAQ:AVXL)

Receive News & Ratings for Anavex Life Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anavex Life Sciences and related companies with MarketBeat.com's FREE daily email newsletter.