Anavex Life Sciences (NASDAQ:AVXL) Shares Gap Up – Should You Buy?

Anavex Life Sciences Corp. (NASDAQ:AVXL) gapped up prior to trading on Tuesday . The stock had previously closed at $9.13, but opened at $10.30. Anavex Life Sciences shares last traded at $9.60, with a volume of 742,967 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Anavex Life Sciences in a research note on Wednesday. D. Boral Capital reissued a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a report on Monday.

Anavex Life Sciences Trading Down 0.1 %

The stock has a market capitalization of $765.74 million, a PE ratio of -18.10 and a beta of 0.60. The firm’s 50-day simple moving average is $6.54 and its two-hundred day simple moving average is $5.62.

Institutional Investors Weigh In On Anavex Life Sciences

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of Anavex Life Sciences in the 2nd quarter valued at $57,000. Orion Capital Management LLC increased its holdings in shares of Anavex Life Sciences by 666.7% during the 3rd quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 10,000 shares during the period. PVG Asset Management Corp bought a new position in shares of Anavex Life Sciences during the 3rd quarter worth about $74,000. Atria Investments Inc bought a new position in shares of Anavex Life Sciences during the 3rd quarter worth about $76,000. Finally, Fiduciary Alliance LLC increased its stake in Anavex Life Sciences by 45.2% in the second quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 6,000 shares during the period. Institutional investors and hedge funds own 31.55% of the company’s stock.

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.