Anavex Life Sciences (NASDAQ:AVXL) Reaches New 12-Month Low – Here’s Why

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $5.10 and last traded at $5.9490, with a volume of 4562265 shares traded. The stock had previously closed at $6.90.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AVXL. D. Boral Capital restated a “buy” rating and set a $46.00 price target on shares of Anavex Life Sciences in a report on Wednesday, October 29th. Jones Trading downgraded shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, October 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Anavex Life Sciences in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $42.00 price objective on shares of Anavex Life Sciences in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.00.

Anavex Life Sciences Stock Performance

The company has a market cap of $531.49 million, a P/E ratio of -10.68 and a beta of 0.92. The firm’s 50 day moving average price is $8.69 and its two-hundred day moving average price is $9.25.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). As a group, analysts forecast that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Anavex Life Sciences by 4.7% in the first quarter. Vanguard Group Inc. now owns 4,902,246 shares of the biotechnology company’s stock worth $42,061,000 after acquiring an additional 221,802 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Anavex Life Sciences by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,019,795 shares of the biotechnology company’s stock worth $18,624,000 after purchasing an additional 54,985 shares in the last quarter. Nwam LLC grew its position in Anavex Life Sciences by 2.4% in the 2nd quarter. Nwam LLC now owns 1,024,479 shares of the biotechnology company’s stock valued at $9,446,000 after purchasing an additional 24,128 shares during the period. Invesco Ltd. grew its position in Anavex Life Sciences by 55.8% in the 2nd quarter. Invesco Ltd. now owns 863,959 shares of the biotechnology company’s stock valued at $7,966,000 after purchasing an additional 309,605 shares during the period. Finally, LPL Financial LLC increased its stake in Anavex Life Sciences by 482.1% during the 1st quarter. LPL Financial LLC now owns 546,626 shares of the biotechnology company’s stock valued at $4,690,000 after purchasing an additional 452,723 shares in the last quarter. 31.55% of the stock is owned by institutional investors and hedge funds.

Anavex Life Sciences Company Profile

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.