Anavex Life Sciences (NASDAQ:AVXL) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Anavex Life Sciences (NASDAQ:AVXL) in a report published on Wednesday,Benzinga reports. HC Wainwright currently has a $40.00 price target on the biotechnology company’s stock.

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $46.00 price target on shares of Anavex Life Sciences in a report on Monday, November 25th.

Anavex Life Sciences Stock Up 4.8 %

AVXL opened at $9.46 on Wednesday. Anavex Life Sciences has a twelve month low of $3.25 and a twelve month high of $10.45. The stock has a market capitalization of $802.17 million, a price-to-earnings ratio of -18.92 and a beta of 0.60. The company has a 50-day simple moving average of $6.75 and a 200 day simple moving average of $5.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AVXL. Orion Capital Management LLC grew its stake in shares of Anavex Life Sciences by 666.7% during the third quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock worth $65,000 after buying an additional 10,000 shares during the last quarter. PVG Asset Management Corp bought a new stake in Anavex Life Sciences during the 3rd quarter worth $74,000. Atria Investments Inc acquired a new position in Anavex Life Sciences in the 3rd quarter worth about $76,000. SG Americas Securities LLC bought a new position in Anavex Life Sciences in the second quarter valued at about $57,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Anavex Life Sciences by 97.0% during the third quarter. BNP Paribas Financial Markets now owns 15,074 shares of the biotechnology company’s stock valued at $86,000 after purchasing an additional 7,421 shares in the last quarter. Institutional investors own 31.55% of the company’s stock.

About Anavex Life Sciences

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.