Anavex Life Sciences (NASDAQ:AVXL) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.03 and traded as low as $7.45. Anavex Life Sciences shares last traded at $7.74, with a volume of 1,656,469 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on AVXL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Anavex Life Sciences in a research report on Wednesday, October 8th. Jones Trading cut shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, October 24th. Wall Street Zen lowered shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 23rd. D. Boral Capital reiterated a “buy” rating and issued a $46.00 price target on shares of Anavex Life Sciences in a research note on Wednesday, October 29th. Finally, HC Wainwright reiterated a “buy” rating and issued a $42.00 price target on shares of Anavex Life Sciences in a research note on Tuesday, October 7th. Two research 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.00.

Anavex Life Sciences Trading Down 2.9%

The company has a market capitalization of $664.79 million, a price-to-earnings ratio of -13.58 and a beta of 0.92. The firm’s 50 day moving average price is $9.03 and its two-hundred day moving average price is $9.35.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings data 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, equities research analysts predict that Anavex Life Sciences Corp. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Delta Asset Management LLC TN increased its stake in shares of Anavex Life Sciences by 9.1% during the 2nd quarter. Delta Asset Management LLC TN now owns 12,000 shares of the biotechnology company’s stock worth $111,000 after purchasing an additional 1,000 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Anavex Life Sciences by 1.5% in 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 during the last quarter. Ameritas Investment Partners Inc. grew its stake in Anavex Life Sciences by 22.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,535 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 1,559 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in Anavex Life Sciences by 11.9% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 19,700 shares of the biotechnology company’s stock valued at $182,000 after buying an additional 2,100 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in Anavex Life Sciences by 17.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 18,234 shares of the biotechnology company’s stock valued at $168,000 after buying an additional 2,716 shares during the last quarter. 31.55% of the stock is currently 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.