Anavex Life Sciences (NASDAQ:AVXL) Hits New 1-Year Low – Should You Sell?

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

Analyst Upgrades and Downgrades

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

Anavex Life Sciences Trading Down 1.5%

The company has a 50-day moving average price of $8.86 and a two-hundred day moving average price of $9.30. The stock has a market cap of $626.14 million, a P/E ratio of -12.79 and a beta of 0.92.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings data 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, equities analysts forecast that Anavex Life Sciences Corp. will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Anavex Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Anavex Life Sciences by 4.7% during the first 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 during the period. Geode Capital Management LLC lifted its stake in shares of Anavex Life Sciences by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,019,795 shares of the biotechnology company’s stock worth $18,624,000 after acquiring an additional 54,985 shares during the last quarter. Nwam LLC boosted its holdings in Anavex Life Sciences by 2.4% during the 2nd quarter. Nwam LLC now owns 1,024,479 shares of the biotechnology company’s stock valued at $9,446,000 after acquiring an additional 24,128 shares during the period. Invesco Ltd. boosted its holdings in Anavex Life Sciences by 55.8% during the 2nd quarter. Invesco Ltd. now owns 863,959 shares of the biotechnology company’s stock valued at $7,966,000 after acquiring an additional 309,605 shares during the period. Finally, LPL Financial LLC grew its position in Anavex Life Sciences by 482.1% in the 1st quarter. LPL Financial LLC now owns 546,626 shares of the biotechnology company’s stock valued at $4,690,000 after acquiring an additional 452,723 shares during the last quarter. 31.55% of the stock is owned by hedge funds and other 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.