Anavex Life Sciences (NASDAQ:AVXL) Announces Earnings Results

Anavex Life Sciences (NASDAQ:AVXL) posted its quarterly earnings results on Tuesday. The biotechnology company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08), FiscalAI reports.

Anavex Life Sciences Stock Down 9.0%

AVXL stock opened at $3.24 on Thursday. Anavex Life Sciences has a 52 week low of $2.26 and a 52 week high of $10.40. The company has a fifty day simple moving average of $2.82 and a two-hundred day simple moving average of $3.24. The firm has a market capitalization of $300.35 million, a P/E ratio of -21.60 and a beta of 1.15.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State of Wyoming purchased a new stake in Anavex Life Sciences during the 2nd quarter valued at $26,000. Quarry LP purchased a new position in Anavex Life Sciences during the third quarter worth $36,000. Aigen Investment Management LP bought a new position in Anavex Life Sciences during the fourth quarter valued at $44,000. Integrated Wealth Concepts LLC bought a new position in Anavex Life Sciences during the fourth quarter valued at $46,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Anavex Life Sciences by 11,540.0% in the third quarter. Russell Investments Group Ltd. now owns 6,984 shares of the biotechnology company’s stock valued at $62,000 after acquiring an additional 6,924 shares during the period. Institutional investors own 31.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AVXL. Rodman & Renshaw began coverage on Anavex Life Sciences in a research note on Monday, May 4th. They set a “buy” rating and a $20.00 target price on the stock. Weiss Ratings cut shares of Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Three 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.33.

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.