Anavex Life Sciences (AVXL) Shares Up 6.1%

Shares of Anavex Life Sciences (NASDAQ:AVXL) shot up 6.1% during mid-day trading on Wednesday . The company traded as high as $2.70 and last traded at $2.44. 650,854 shares were traded during trading, an increase of 117% from the average session volume of 300,287 shares. The stock had previously closed at $2.30.

A number of brokerages recently issued reports on AVXL. Zacks Investment Research lowered shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Maxim Group set a $5.00 target price on shares of Anavex Life Sciences and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Noble Financial set a $7.00 target price on shares of Anavex Life Sciences and gave the stock a “buy” rating in a research report on Wednesday. Roth Capital began coverage on shares of Anavex Life Sciences in a research report on Thursday, March 8th. They set a “buy” rating and a $6.00 target price on the stock. Finally, ValuEngine upgraded shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Anavex Life Sciences currently has an average rating of “Buy” and a consensus price target of $5.63.

The stock has a market capitalization of $97.81 million, a PE ratio of -7.39 and a beta of 0.93.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Thursday, May 10th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.01). equities research analysts expect that Anavex Life Sciences will post -0.41 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in AVXL. Millennium Management LLC boosted its holdings in shares of Anavex Life Sciences by 95.2% in the 4th quarter. Millennium Management LLC now owns 44,895 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 21,895 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Anavex Life Sciences by 48.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 76,200 shares of the biotechnology company’s stock valued at $211,000 after purchasing an additional 25,000 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Anavex Life Sciences by 40.8% in the 3rd quarter. Wells Fargo & Company MN now owns 56,873 shares of the biotechnology company’s stock valued at $236,000 after purchasing an additional 16,488 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Anavex Life Sciences by 150.9% in the 4th quarter. Deutsche Bank AG now owns 82,967 shares of the biotechnology company’s stock valued at $266,000 after purchasing an additional 49,904 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Anavex Life Sciences by 60.3% in the 4th quarter. Bank of New York Mellon Corp now owns 177,938 shares of the biotechnology company’s stock valued at $573,000 after purchasing an additional 66,931 shares during the last quarter. Institutional investors own 22.71% of the company’s stock.

About Anavex Life Sciences

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of Alzheimer's disease, other central nervous system diseases, pain, and various cancers. The company's lead drug candidates include ANAVEX 2-73, which has completed Phase IIa clinical trials for the treatment of Alzheimer's disease; and in preclinical clinical trials to treat Parkinson's disease, epilepsy, Rett syndrome, Angelman syndrome, multiple sclerosis, and Fragile X syndrome.

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