Anavex Life Sciences (NASDAQ:AVXL) Shares Cross Above Fifty Day Moving Average – What’s Next?

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $4.51 and traded as high as $4.84. Anavex Life Sciences shares last traded at $4.71, with a volume of 493,340 shares changing hands.

Analyst Ratings Changes

A number of research firms have weighed in on AVXL. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Anavex Life Sciences in a research report on Tuesday, February 10th. D. Boral Capital reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Anavex Life Sciences in a research note on Monday, February 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anavex Life Sciences in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Anavex Life Sciences has an average rating of “Hold” and an average price target of $22.00.

Anavex Life Sciences Stock Performance

The business has a 50 day moving average price of $4.51 and a 200-day moving average price of $5.95. The company has a market capitalization of $436.48 million, a price-to-earnings ratio of -10.24 and a beta of 1.08.

Anavex Life Sciences (NASDAQ:AVXL) last released its earnings results on Monday, February 9th. The biotechnology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. As a group, equities analysts predict that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Institutional Trading of Anavex Life Sciences

Several hedge funds have recently modified their holdings of AVXL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Anavex Life Sciences by 10.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,525 shares of the biotechnology company’s stock valued at $434,000 after acquiring an additional 4,869 shares during the period. Allworth Financial LP grew its holdings in Anavex Life Sciences by 92.6% in the second quarter. Allworth Financial LP now owns 21,362 shares of the biotechnology company’s stock worth $197,000 after purchasing an additional 10,268 shares during the period. SBI Securities Co. Ltd. grew its holdings in Anavex Life Sciences by 470.0% in the second quarter. SBI Securities Co. Ltd. now owns 4,879 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 4,023 shares during the period. PNC Financial Services Group Inc. increased its stake in Anavex Life Sciences by 10.1% in the second quarter. PNC Financial Services Group Inc. now owns 63,511 shares of the biotechnology company’s stock valued at $586,000 after purchasing an additional 5,838 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Anavex Life Sciences by 2.8% in the second quarter. Geode Capital Management LLC now owns 2,019,795 shares of the biotechnology company’s stock valued at $18,624,000 after purchasing an additional 54,985 shares in the last quarter. Institutional investors own 31.55% of the company’s stock.

About Anavex Life Sciences

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.