Anavex Life Sciences (NASDAQ:AVXL) Stock Price Passes Above 50-Day Moving Average – What’s Next?
by Tristan Rich · The Markets DailyAnavex Life Sciences Corp. (NASDAQ:AVXL – Get Free Report) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $4.07 and traded as high as $5.32. Anavex Life Sciences shares last traded at $5.26, with a volume of 1,229,354 shares traded.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on AVXL shares. Jones Trading cut shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, October 24th. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Anavex Life Sciences in a research report on Friday, December 19th. D. Boral Capital restated a “buy” rating and issued a $24.00 price objective on shares of Anavex Life Sciences in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Anavex Life Sciences in a report on Monday, December 29th. Two research 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.00.
Check Out Our Latest Report on AVXL
Anavex Life Sciences Stock Down 0.8%
The stock has a 50-day moving average price of $4.07 and a 200 day moving average price of $7.59. The firm has a market capitalization of $469.98 million, a price-to-earnings ratio of -9.74 and a beta of 1.17.
Anavex Life Sciences (NASDAQ:AVXL – Get Free Report) last issued its earnings results on Tuesday, November 25th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. During the same quarter last year, the firm posted ($0.14) earnings per share. As a group, equities analysts forecast that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. increased its position in Anavex Life Sciences by 55.8% during the second quarter. Invesco Ltd. now owns 863,959 shares of the biotechnology company’s stock worth $7,966,000 after buying an additional 309,605 shares during the period. Sheets Smith Investment Management purchased a new stake in Anavex Life Sciences in the 3rd quarter valued at $1,210,000. October Effect Ltd boosted its stake in Anavex Life Sciences by 110.4% during the 3rd quarter. October Effect Ltd now owns 245,221 shares of the biotechnology company’s stock worth $2,182,000 after purchasing an additional 128,675 shares during the period. Sheets Smith Wealth Management purchased a new position in Anavex Life Sciences during the 4th quarter worth $419,000. Finally, XTX Topco Ltd acquired a new position in Anavex Life Sciences in the third quarter valued at $727,000. 31.55% of the stock is owned by institutional investors and hedge funds.
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.