Anavex Life Sciences (NASDAQ:AVXL) Trading 7.2% Higher – Time to Buy?

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares were up 7.2% during trading on Wednesday . The company traded as high as $8.55 and last traded at $8.60. Approximately 476,510 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 1,250,416 shares. The stock had previously closed at $8.02.

Analyst Ratings Changes

AVXL has been the topic of several research analyst reports. D. Boral Capital reiterated a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research report on Wednesday, February 12th. HC Wainwright reissued a “buy” rating and issued a $42.00 target price on shares of Anavex Life Sciences in a research note on Monday.

Anavex Life Sciences Stock Up 8.2 %

The firm has a 50-day moving average of $8.96 and a two-hundred day moving average of $8.37. The company has a market capitalization of $738.36 million, a PE ratio of -15.78 and a beta of 0.94.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. On average, equities research analysts expect that Anavex Life Sciences Corp. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in Anavex Life Sciences in the fourth quarter valued at approximately $1,704,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Anavex Life Sciences by 69.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,673 shares of the biotechnology company’s stock valued at $286,000 after purchasing an additional 10,925 shares during the last quarter. PVG Asset Management Corp increased its holdings in shares of Anavex Life Sciences by 503.5% in the fourth quarter. PVG Asset Management Corp now owns 78,490 shares of the biotechnology company’s stock valued at $843,000 after purchasing an additional 65,485 shares during the period. Vermillion Wealth Management Inc. acquired a new stake in Anavex Life Sciences in the fourth quarter valued at about $34,000. Finally, Squarepoint Ops LLC boosted its holdings in Anavex Life Sciences by 304.9% in the 4th quarter. Squarepoint Ops LLC now owns 67,627 shares of the biotechnology company’s stock valued at $726,000 after purchasing an additional 50,924 shares in the last quarter. Hedge funds and other institutional investors own 31.55% of the company’s stock.

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.