Brokerages Expect Anavex Life Sciences Corp. (NASDAQ:AVXL) Will Post Earnings of -$0.12 Per Share


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Wall Street analysts predict that Anavex Life Sciences Corp. (NASDAQ:AVXL) will announce earnings per share of ($0.12) for the current quarter, Zacks reports. Zero analysts have provided estimates for Anavex Life Sciences’ earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.15). Anavex Life Sciences also posted earnings of ($0.12) per share during the same quarter last year. The company is expected to announce its next earnings results on Thursday, May 6th.

On average, analysts expect that Anavex Life Sciences will report full year earnings of ($0.52) per share for the current fiscal year, with EPS estimates ranging from ($0.61) to ($0.40). For the next financial year, analysts forecast that the firm will report earnings of ($0.57) per share, with EPS estimates ranging from ($0.60) to ($0.54). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Anavex Life Sciences.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings results on Wednesday, February 10th. The biotechnology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01).

A number of research firms recently weighed in on AVXL. LADENBURG THALM/SH SH restated a “buy” rating and set a $20.00 price target on shares of Anavex Life Sciences in a research report on Wednesday, February 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 target price (up from $10.00) on shares of Anavex Life Sciences in a report on Monday, March 1st. Finally, Zacks Investment Research lowered shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, February 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Anavex Life Sciences presently has an average rating of “Buy” and an average target price of $15.71.

In related news, Director Elliot Favus sold 145,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $12.66, for a total transaction of $1,842,030.00. Following the sale, the director now directly owns 45,000 shares of the company’s stock, valued at approximately $569,700. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AVXL. California Public Employees Retirement System increased its stake in Anavex Life Sciences by 4.9% during the 3rd quarter. California Public Employees Retirement System now owns 118,745 shares of the biotechnology company’s stock worth $540,000 after buying an additional 5,500 shares during the period. State Street Corp grew its holdings in Anavex Life Sciences by 1.6% during the 3rd quarter. State Street Corp now owns 890,490 shares of the biotechnology company’s stock worth $4,052,000 after acquiring an additional 14,119 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Anavex Life Sciences during the 3rd quarter worth approximately $256,000. Jane Street Group LLC acquired a new position in Anavex Life Sciences during the 3rd quarter worth approximately $246,000. Finally, California State Teachers Retirement System grew its holdings in Anavex Life Sciences by 5.5% during the 3rd quarter. California State Teachers Retirement System now owns 79,027 shares of the biotechnology company’s stock worth $360,000 after acquiring an additional 4,120 shares in the last quarter. 18.92% of the stock is currently owned by hedge funds and other institutional investors.

AVXL opened at $11.80 on Wednesday. The firm has a market capitalization of $826.37 million, a PE ratio of -26.22 and a beta of 0.70. Anavex Life Sciences has a twelve month low of $3.01 and a twelve month high of $28.70. The firm’s 50-day moving average price is $14.06 and its 200 day moving average price is $8.39.

About Anavex Life Sciences

Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound, ANAVEX2-73, is being developed to treat Alzheimer’s and Parkinson’s disease and central nervous system diseases, including Rett syndrome.

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