Anavex Life Sciences (NASDAQ:AVXL) Shares Cross Above 50-Day Moving Average – What’s Next?

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $4.51 and traded as high as $4.84. Anavex Life Sciences shares last traded at $4.71, with a volume of 493,340 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. D. Boral Capital restated a “buy” rating and set a $24.00 price target on shares of Anavex Life Sciences in a report on Monday, February 9th. Wall Street Zen raised shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Anavex Life Sciences in a report on Monday, December 29th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Anavex Life Sciences in a research report on Tuesday, February 10th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.00.

Anavex Life Sciences Price Performance

The stock’s 50 day moving average price is $4.52 and its two-hundred day moving average price is $5.90. The firm has a market capitalization of $394.77 million, a price-to-earnings ratio of -9.26 and a beta of 1.08.

Anavex Life Sciences (NASDAQ:AVXL) last posted its earnings results on Monday, February 9th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. As a group, equities research analysts anticipate that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Anavex Life Sciences

A number of institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC increased its position in shares of Anavex Life Sciences by 51.4% during the second quarter. Intech Investment Management LLC now owns 48,842 shares of the biotechnology company’s stock valued at $450,000 after purchasing an additional 16,589 shares during the period. Geode Capital Management LLC lifted its position in Anavex Life Sciences by 2.8% in the second quarter. Geode Capital Management LLC now owns 2,019,795 shares of the biotechnology company’s stock worth $18,624,000 after purchasing an additional 54,985 shares during the period. Sheets Smith Investment Management bought a new position in Anavex Life Sciences in the third quarter worth $1,210,000. October Effect Ltd boosted its stake in Anavex Life Sciences by 110.4% during the third quarter. October Effect Ltd now owns 245,221 shares of the biotechnology company’s stock worth $2,182,000 after buying an additional 128,675 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in Anavex Life Sciences by 122.9% during the third quarter. SBI Securities Co. Ltd. now owns 10,874 shares of the biotechnology company’s stock worth $97,000 after buying an additional 5,995 shares in the last quarter. 31.55% of the stock is currently owned by institutional investors.

About Anavex Life Sciences

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.