Anavex Life Sciences (NASDAQ:AVXL) Trading 6.3% Higher – Time to Buy?

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares rose 6.3% during mid-day trading on Tuesday . The stock traded as high as $13.94 and last traded at $13.94. Approximately 1,141,135 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 2,249,582 shares. The stock had previously closed at $13.11.

Analysts Set New Price Targets

AVXL has been the subject of a number of recent research reports. D. Boral Capital reaffirmed a “buy” rating and set a $46.00 price target on shares of Anavex Life Sciences in a research report on Monday, December 23rd. HC Wainwright increased their price objective on shares of Anavex Life Sciences from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 26th.

Anavex Life Sciences Stock Performance

The firm has a fifty day moving average price of $9.30 and a 200 day moving average price of $6.89. The company has a market cap of $969.45 million, a price-to-earnings ratio of -22.86 and a beta of 0.70.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings data on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. On average, analysts expect that Anavex Life Sciences Corp. will post -0.55 EPS for the current fiscal year.

Institutional Trading of Anavex Life Sciences

Hedge funds have recently made changes to their positions in the business. Barclays PLC raised its stake in Anavex Life Sciences by 70.4% in the 3rd quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock valued at $882,000 after acquiring an additional 64,101 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Anavex Life Sciences by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 665,976 shares of the biotechnology company’s stock valued at $3,783,000 after purchasing an additional 14,892 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Anavex Life Sciences by 483.8% during the 2nd quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company’s stock worth $1,968,000 after buying an additional 386,537 shares during the last quarter. Franklin Resources Inc. grew its stake in Anavex Life Sciences by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock valued at $317,000 after buying an additional 3,674 shares during the last quarter. Finally, Nwam LLC acquired a new stake in Anavex Life Sciences during the third quarter worth approximately $5,172,000. 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.