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 released on Tuesday,Benzinga reports. They currently have a $42.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 327.70% from the company’s current price.

Separately, D. Boral Capital restated a “buy” rating and issued a $46.00 price target on shares of Anavex Life Sciences in a research report on Tuesday.

Anavex Life Sciences Price Performance

NASDAQ AVXL opened at $9.82 on Tuesday. The firm has a market capitalization of $832.93 million, a PE ratio of -18.88 and a beta of 0.70. Anavex Life Sciences has a 12 month low of $3.25 and a 12 month high of $14.44. The company’s 50 day simple moving average is $9.92 and its 200 day simple moving average is $7.46.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. Sell-side analysts anticipate that Anavex Life Sciences will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Anavex Life Sciences

A number of hedge funds have recently bought and sold shares of AVXL. Renaissance Technologies LLC lifted its position 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 valued at $1,968,000 after acquiring an additional 386,537 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Anavex Life Sciences in the second quarter valued at $166,000. Squarepoint Ops LLC acquired a new stake in shares of Anavex Life Sciences in the second quarter worth $191,000. AQR Capital Management LLC raised its position in Anavex Life Sciences by 145.8% during the second quarter. AQR Capital Management LLC now owns 45,219 shares of the biotechnology company’s stock valued at $191,000 after buying an additional 26,821 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Anavex Life Sciences by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,510 shares of the biotechnology company’s stock worth $129,000 after acquiring an additional 2,401 shares in the last quarter. 31.55% of the stock is owned by hedge funds and other institutional investors.

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.