Anavex Life Sciences (NASDAQ:AVXL) Earns “Buy” Rating from HC Wainwright

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $40.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 342.97% from the stock’s previous close.

Separately, D. Boral Capital reiterated a “buy” rating and issued a $46.00 price objective on shares of Anavex Life Sciences in a research note on Monday.

Anavex Life Sciences Stock Performance

Anavex Life Sciences stock opened at $9.03 on Wednesday. The business’s 50-day simple moving average is $6.46 and its 200-day simple moving average is $5.58. The firm has a market capitalization of $765.74 million, a PE ratio of -18.06 and a beta of 0.60. Anavex Life Sciences has a 52 week low of $3.25 and a 52 week high of $10.45.

Hedge Funds Weigh In On Anavex Life Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVXL. Nwam LLC acquired a new position in shares of Anavex Life Sciences in the 3rd quarter worth approximately $5,172,000. Renaissance Technologies LLC boosted its holdings in shares of Anavex Life Sciences by 483.8% in the 2nd quarter. Renaissance Technologies LLC now owns 466,437 shares of the biotechnology company’s stock worth $1,968,000 after acquiring an additional 386,537 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of Anavex Life Sciences in the 2nd quarter worth approximately $346,000. Barclays PLC boosted its holdings in shares of Anavex Life Sciences by 70.4% in the 3rd quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock worth $882,000 after acquiring an additional 64,101 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Anavex Life Sciences by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 4,414,682 shares of the biotechnology company’s stock worth $22,471,000 after acquiring an additional 54,034 shares in the last quarter. 31.55% of the stock is currently owned by institutional investors.

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.