Anavex Life Sciences (NASDAQ:AVXL) Shares Pass Above 50 Day Moving Average – Time to Sell?

Anavex Life Sciences Corp. (NASDAQ:AVXL) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.23 and traded as high as $9.40. Anavex Life Sciences shares last traded at $8.74, with a volume of 1,483,572 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen cut Anavex Life Sciences from a “hold” rating to a “sell” rating in a report on Saturday, August 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anavex Life Sciences in a research report on Wednesday, October 8th. D. Boral Capital reissued a “buy” rating and issued a $46.00 target price on shares of Anavex Life Sciences in a report on Wednesday, October 1st. Finally, HC Wainwright restated a “buy” rating and issued a $42.00 price target on shares of Anavex Life Sciences in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.00.

Anavex Life Sciences Price Performance

The company has a fifty day moving average price of $9.23 and a two-hundred day moving average price of $9.35. The company has a market capitalization of $750.68 million, a P/E ratio of -15.33 and a beta of 0.83.

Anavex Life Sciences (NASDAQ:AVXL) last posted its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). As a group, sell-side analysts forecast that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Anavex Life Sciences in the 3rd quarter valued at about $97,000. Gladstone Institutional Advisory LLC lifted its stake in shares of Anavex Life Sciences by 19.6% in the third quarter. Gladstone Institutional Advisory LLC now owns 59,529 shares of the biotechnology company’s stock worth $530,000 after acquiring an additional 9,764 shares during the period. Foster Victor Wealth Advisors LLC boosted its holdings in Anavex Life Sciences by 7.5% in the third quarter. Foster Victor Wealth Advisors LLC now owns 40,478 shares of the biotechnology company’s stock valued at $360,000 after acquiring an additional 2,815 shares during the last quarter. Sheets Smith Investment Management acquired a new stake in Anavex Life Sciences during the 3rd quarter valued at approximately $1,210,000. Finally, PVG Asset Management Corp raised its holdings in Anavex Life Sciences by 34.9% during the 2nd quarter. PVG Asset Management Corp now owns 111,445 shares of the biotechnology company’s stock worth $1,028,000 after purchasing an additional 28,837 shares during the last quarter. 31.55% of the stock is owned by institutional investors.

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.