Anavex Life Sciences (NASDAQ:AVXL) Shares Gap Up – Should You Buy?

Anavex Life Sciences Corp. (NASDAQ:AVXL)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $9.13, but opened at $10.30. Anavex Life Sciences shares last traded at $9.60, with a volume of 742,967 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AVXL shares. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Anavex Life Sciences in a research note on Wednesday. D. Boral Capital reaffirmed a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a report on Monday.

Anavex Life Sciences Stock Down 0.1 %

The company has a market cap of $765.74 million, a PE ratio of -18.10 and a beta of 0.60. The stock has a 50-day simple moving average of $6.54 and a 200 day simple moving average of $5.62.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Anavex Life Sciences during the 2nd quarter valued at approximately $57,000. Orion Capital Management LLC grew its holdings in Anavex Life Sciences by 666.7% during the 3rd quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 10,000 shares during the last quarter. PVG Asset Management Corp acquired a new stake in Anavex Life Sciences during the 3rd quarter valued at $74,000. Atria Investments Inc acquired a new stake in Anavex Life Sciences during the 3rd quarter valued at $76,000. Finally, Fiduciary Alliance LLC lifted its stake in shares of Anavex Life Sciences by 45.2% during the 2nd quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 6,000 shares during the period. 31.55% of the stock is 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.