HC Wainwright Raises Anavex Life Sciences (NASDAQ:AVXL) Price Target to $42.00

Anavex Life Sciences (NASDAQ:AVXL) had its price target upped by HC Wainwright from $40.00 to $42.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Separately, D. Boral Capital restated a “buy” rating and set a $46.00 price objective on shares of Anavex Life Sciences in a research note on Monday, December 23rd.

Anavex Life Sciences Price Performance

AVXL opened at $12.11 on Thursday. Anavex Life Sciences has a 12-month low of $3.25 and a 12-month high of $14.44. The stock has a market capitalization of $1.03 billion, a PE ratio of -24.22 and a beta of 0.73. The firm’s fifty day moving average price is $8.29 and its 200 day moving average price is $6.42.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings results on Monday, December 23rd. The biotechnology company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. On average, equities research analysts forecast that Anavex Life Sciences will post -0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Anavex Life Sciences

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Anavex Life Sciences by 2.9% during the third quarter. JPMorgan Chase & Co. now owns 42,565 shares of the biotechnology company’s stock valued at $242,000 after acquiring an additional 1,191 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Anavex Life Sciences by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 58,557 shares of the biotechnology company’s stock worth $317,000 after purchasing an additional 3,674 shares during the last quarter. PVG Asset Management Corp bought a new position in shares of Anavex Life Sciences during the 3rd quarter valued at $74,000. Barclays PLC lifted its stake in shares of Anavex Life Sciences by 70.4% in the 3rd quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock valued at $882,000 after purchasing an additional 64,101 shares during the last quarter. Finally, Orion Capital Management LLC lifted its stake in shares of Anavex Life Sciences by 666.7% in the 3rd quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 10,000 shares during the last quarter. 31.55% of the stock is owned by institutional investors and hedge funds.

About Anavex Life Sciences

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.