Anavex Life Sciences (NASDAQ:AVXL) Earns “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 report issued on Wednesday,Benzinga reports. They presently have a $40.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 342.97% from the company’s current price.

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $46.00 price objective on shares of Anavex Life Sciences in a report on Monday.

Anavex Life Sciences Stock Performance

NASDAQ:AVXL opened at $9.03 on Wednesday. The stock’s fifty day moving average price is $6.46 and its two-hundred day moving average price is $5.58. Anavex Life Sciences has a 52-week low of $3.25 and a 52-week high of $10.45. The company has a market cap of $765.74 million, a price-to-earnings ratio of -18.06 and a beta of 0.60.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AVXL. Vanguard Group Inc. lifted its stake 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 valued at $22,471,000 after purchasing an additional 54,034 shares during the period. Virtu Financial LLC increased its position in shares of Anavex Life Sciences by 87.5% in the 1st quarter. Virtu Financial LLC now owns 40,612 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 18,954 shares in the last quarter. Fiduciary Alliance LLC increased its position in shares of Anavex Life Sciences by 45.2% in the 2nd quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 6,000 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Anavex Life Sciences in the 2nd quarter valued at $57,000. Finally, Bank of New York Mellon Corp increased its position in shares of Anavex Life Sciences by 17.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 280,556 shares of the biotechnology company’s stock valued at $1,184,000 after buying an additional 40,895 shares in the last quarter. Institutional investors and hedge funds 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.