Anavex Life Sciences (NASDAQ:AVXL) Posts Earnings Results, Beats Estimates By $0.02 EPS

Anavex Life Sciences (NASDAQ:AVXL) issued its quarterly earnings data on Tuesday. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02, Zacks reports. During the same period in the previous year, the business posted ($0.14) EPS.

Anavex Life Sciences Stock Up 11.6%

Anavex Life Sciences stock opened at $3.86 on Thursday. Anavex Life Sciences has a 52 week low of $2.86 and a 52 week high of $14.44. The company has a market capitalization of $331.54 million, a price-to-earnings ratio of -7.15 and a beta of 0.92. The stock has a 50-day moving average price of $7.57 and a 200 day moving average price of $8.88.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AVXL. Jones Trading downgraded Anavex Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, October 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Anavex Life Sciences in a research note on Tuesday. HC Wainwright restated a “buy” rating and set a $42.00 price objective on shares of Anavex Life Sciences in a report on Tuesday, October 7th. D. Boral Capital reiterated a “buy” rating on shares of Anavex Life Sciences in a research note on Wednesday. Finally, Wall Street Zen downgraded shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 23rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $44.00.

Hedge Funds Weigh In On Anavex Life Sciences

A number of institutional investors have recently bought and sold shares of the business. State of Wyoming acquired a new stake in Anavex Life Sciences during the 2nd quarter valued at approximately $26,000. Quarry LP purchased a new position in shares of Anavex Life Sciences during the third quarter worth $36,000. Russell Investments Group Ltd. lifted its position in Anavex Life Sciences by 11,540.0% during the third quarter. Russell Investments Group Ltd. now owns 6,984 shares of the biotechnology company’s stock valued at $62,000 after purchasing an additional 6,924 shares during the period. Prudential Financial Inc. purchased a new stake in Anavex Life Sciences in the second quarter valued at $95,000. Finally, Sei Investments Co. acquired a new stake in Anavex Life Sciences during the 2nd quarter worth about $107,000. 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.