Anavex Life Sciences (NASDAQ:AVXL) Issues Earnings Results

Anavex Life Sciences (NASDAQ:AVXL) announced its quarterly earnings data on Monday. The biotechnology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04, FiscalAI reports.

Anavex Life Sciences Stock Performance

AVXL stock opened at $4.10 on Monday. The company has a market cap of $366.34 million, a price-to-earnings ratio of -7.59 and a beta of 1.21. The business’s 50-day moving average is $4.28 and its two-hundred day moving average is $7.08. Anavex Life Sciences has a fifty-two week low of $2.86 and a fifty-two week high of $13.99.

Institutional Investors Weigh In On Anavex Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in AVXL. Ameriprise Financial Inc. lifted its stake in shares of Anavex Life Sciences by 1.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 85,990 shares of the biotechnology company’s stock valued at $793,000 after buying an additional 1,233 shares in the last quarter. State of Wyoming purchased a new position in shares of Anavex Life Sciences in the second quarter valued at about $26,000. BNP Paribas Financial Markets boosted its stake in shares of Anavex Life Sciences by 9.9% in the third quarter. BNP Paribas Financial Markets now owns 33,779 shares of the biotechnology company’s stock worth $301,000 after acquiring an additional 3,035 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Anavex Life Sciences by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 30,349 shares of the biotechnology company’s stock worth $280,000 after purchasing an additional 3,274 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Anavex Life Sciences during the third quarter worth about $36,000. Hedge funds and other institutional investors own 31.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AVXL. Weiss Ratings reissued a “sell (d-)” rating on shares of Anavex Life Sciences in a research report on Monday, December 29th. Jones Trading cut Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, October 24th. D. Boral Capital reiterated a “buy” rating and set a $24.00 price objective on shares of Anavex Life Sciences in a research note on Tuesday, January 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Anavex Life Sciences in a research note on Friday, December 19th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $22.00.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.