Anavex Life Sciences (NASDAQ:AVXL) Price Target Raised to $42.00

Anavex Life Sciences (NASDAQ:AVXL) had its price objective increased by HC Wainwright from $40.00 to $42.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Separately, D. Boral Capital reaffirmed a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a report on Monday, December 23rd.

Anavex Life Sciences Price Performance

Shares of AVXL stock opened at $12.11 on Thursday. The business’s fifty day moving average price is $8.29 and its 200 day moving average price is $6.42. The firm has a market capitalization of $1.03 billion, a PE ratio of -24.22 and a beta of 0.73. Anavex Life Sciences has a 1-year low of $3.25 and a 1-year high of $14.44.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. Equities research analysts expect that Anavex Life Sciences will post -0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AVXL. Orion Capital Management LLC raised its holdings in shares of 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 period. PVG Asset Management Corp purchased a new stake in shares of Anavex Life Sciences during the third quarter valued at approximately $74,000. Atria Investments Inc purchased a new stake in shares of Anavex Life Sciences during the third quarter valued at approximately $76,000. BNP Paribas Financial Markets lifted its position in shares of Anavex Life Sciences by 97.0% during the third quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company’s stock worth $86,000 after purchasing an additional 7,421 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Anavex Life Sciences by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock valued at $93,000 after purchasing an additional 6,366 shares during the period. 31.55% of the stock is owned by institutional investors and hedge funds.

About Anavex Life Sciences

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.