Pier Capital LLC Invests $4.75 Million in Anavex Life Sciences Corp. (NASDAQ:AVXL)

Pier Capital LLC acquired a new position in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) in the 4th quarter, HoldingsChannel reports. The fund acquired 441,915 shares of the biotechnology company’s stock, valued at approximately $4,746,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Anavex Life Sciences by 2.8% during the third quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock worth $10,699,000 after purchasing an additional 51,946 shares in the last quarter. Nwam LLC boosted its stake in shares of Anavex Life Sciences by 0.3% in the fourth quarter. Nwam LLC now owns 913,051 shares of the biotechnology company’s stock valued at $9,806,000 after purchasing an additional 2,575 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Anavex Life Sciences by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,215 shares of the biotechnology company’s stock worth $7,273,000 after buying an additional 11,239 shares during the period. Essential Planning LLC. acquired a new stake in Anavex Life Sciences during the 4th quarter valued at approximately $4,437,000. Finally, Barclays PLC increased its holdings in Anavex Life Sciences by 70.4% during the 3rd quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock worth $882,000 after purchasing an additional 64,101 shares during the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

Wall Street Analysts Forecast Growth

AVXL has been the subject of a number of research analyst reports. D. Boral Capital restated a “buy” rating and issued a $46.00 price target on shares of Anavex Life Sciences in a research note on Wednesday, February 12th. HC Wainwright restated a “buy” rating and issued a $42.00 target price on shares of Anavex Life Sciences in a research note on Tuesday, February 18th.

Anavex Life Sciences Price Performance

Shares of AVXL opened at $9.61 on Tuesday. The business’s fifty day moving average price is $9.08 and its 200 day moving average price is $8.21. Anavex Life Sciences Corp. has a 12-month low of $3.25 and a 12-month high of $14.44. The stock has a market capitalization of $817.47 million, a PE ratio of -17.47 and a beta of 0.94.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. As a group, research analysts anticipate that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.

Anavex Life Sciences 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.