Anavex Life Sciences (NASDAQ:AVXL) Reaches New 1-Year Low – What’s Next?

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $7.11 and last traded at $7.3280, with a volume of 454090 shares. The stock had previously closed at $7.40.

Analyst Ratings Changes

Several brokerages have commented on AVXL. Wall Street Zen downgraded Anavex Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 23rd. Jones Trading lowered shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, October 24th. HC Wainwright reaffirmed a “buy” rating and issued a $42.00 price target on shares of Anavex Life Sciences in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anavex Life Sciences in a report on Wednesday, October 8th. Finally, D. Boral Capital restated a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a research note on Wednesday, October 29th. Two research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Anavex Life Sciences Stock Up 1.3%

The stock has a market capitalization of $643.75 million, a P/E ratio of -13.13 and a beta of 0.92. The stock’s 50 day moving average price is $8.91 and its 200-day moving average price is $9.31.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Analysts anticipate that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Anavex Life Sciences

Institutional investors have recently bought and sold shares of the company. LPL Financial LLC increased its position in shares of Anavex Life Sciences by 482.1% during the first quarter. LPL Financial LLC now owns 546,626 shares of the biotechnology company’s stock worth $4,690,000 after purchasing an additional 452,723 shares in the last quarter. Invesco Ltd. grew its stake in Anavex Life Sciences by 55.8% during the 2nd quarter. Invesco Ltd. now owns 863,959 shares of the biotechnology company’s stock worth $7,966,000 after buying an additional 309,605 shares during the last quarter. Vanguard Group Inc. increased its position in Anavex Life Sciences by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 4,902,246 shares of the biotechnology company’s stock valued at $42,061,000 after buying an additional 221,802 shares in the last quarter. Nuveen LLC acquired a new position in Anavex Life Sciences during the 1st quarter valued at about $1,622,000. Finally, Private Advisor Group LLC raised its stake in Anavex Life Sciences by 617.5% in the first quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company’s stock valued at $1,842,000 after buying an additional 184,800 shares during the last quarter. 31.55% of the stock is currently owned by institutional investors and hedge funds.

Anavex Life Sciences Company Profile

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.