Anavex Life Sciences (NASDAQ:AVXL) Receives Buy Rating from HC Wainwright

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

Separately, EF Hutton Acquisition Co. I raised shares of Anavex Life Sciences to a “strong-buy” rating in a research report on Monday, July 22nd.

Anavex Life Sciences Price Performance

Shares of NASDAQ AVXL opened at $5.51 on Friday. The company has a 50 day simple moving average of $5.69 and a 200-day simple moving average of $4.95. The company has a market capitalization of $465.95 million, a P/E ratio of -11.01 and a beta of 0.61. Anavex Life Sciences has a 1 year low of $3.25 and a 1 year high of $10.45.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. During the same quarter last year, the company posted ($0.14) EPS. As a group, research analysts expect that Anavex Life Sciences will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Anavex Life Sciences

A number of hedge funds have recently made changes to their positions in AVXL. SG Americas Securities LLC purchased a new position in shares of Anavex Life Sciences during the 2nd quarter worth approximately $57,000. Fiduciary Alliance LLC purchased a new position in Anavex Life Sciences in the 1st quarter valued at approximately $67,000. EntryPoint Capital LLC boosted its position in Anavex Life Sciences by 371.1% in the 1st quarter. EntryPoint Capital LLC now owns 20,007 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 15,760 shares during the period. The Manufacturers Life Insurance Company boosted its position in Anavex Life Sciences by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 2,401 shares during the period. Finally, Saxon Interests Inc. purchased a new position in Anavex Life Sciences in the 1st quarter valued at approximately $136,000. Hedge funds and other institutional investors own 31.55% of the company’s stock.

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.