Zacks: Analysts Anticipate Anavex Life Sciences Corp (AVXL) to Post -$0.10 Earnings Per Share

Brokerages predict that Anavex Life Sciences Corp (NASDAQ:AVXL) will report ($0.10) earnings per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Anavex Life Sciences’ earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.11). Anavex Life Sciences reported earnings per share of ($0.09) in the same quarter last year, which would suggest a negative year-over-year growth rate of 11.1%. The firm is scheduled to announce its next earnings report on Monday, August 6th.

On average, analysts expect that Anavex Life Sciences will report full-year earnings of ($0.39) per share for the current financial year, with EPS estimates ranging from ($0.42) to ($0.36). For the next year, analysts forecast that the company will post earnings of ($0.41) per share, with EPS estimates ranging from ($0.44) to ($0.38). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Anavex Life Sciences.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Thursday, May 10th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01).

A number of brokerages have issued reports on AVXL. Roth Capital began coverage on Anavex Life Sciences in a research note on Thursday, March 8th. They issued a “buy” rating and a $6.00 price target on the stock. Maxim Group reissued a “buy” rating and issued a $7.00 price target (up from $5.00) on shares of Anavex Life Sciences in a research note on Thursday, May 31st. Zacks Investment Research raised Anavex Life Sciences from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research note on Thursday, March 22nd. HC Wainwright began coverage on Anavex Life Sciences in a research note on Wednesday, May 30th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Noble Financial set a $7.00 price target on Anavex Life Sciences and gave the stock a “buy” rating in a research note on Wednesday, May 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Anavex Life Sciences has an average rating of “Buy” and an average target price of $6.55.

Shares of Anavex Life Sciences opened at $2.96 on Monday, MarketBeat reports. Anavex Life Sciences has a fifty-two week low of $1.85 and a fifty-two week high of $5.61. The firm has a market capitalization of $148.72 million, a PE ratio of -8.97 and a beta of 0.99.

A number of large investors have recently modified their holdings of the business. Park West Asset Management LLC raised its holdings in shares of Anavex Life Sciences by 11.1% in the 1st quarter. Park West Asset Management LLC now owns 3,014,365 shares of the biotechnology company’s stock worth $8,320,000 after purchasing an additional 301,507 shares during the period. Northern Trust Corp raised its holdings in shares of Anavex Life Sciences by 6.3% in the 1st quarter. Northern Trust Corp now owns 449,761 shares of the biotechnology company’s stock worth $1,241,000 after purchasing an additional 26,595 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Anavex Life Sciences by 48.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 76,200 shares of the biotechnology company’s stock worth $211,000 after purchasing an additional 25,000 shares during the period. Millennium Management LLC raised its holdings in shares of Anavex Life Sciences by 95.2% in the 4th quarter. Millennium Management LLC now owns 44,895 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 21,895 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Anavex Life Sciences by 150.9% in the 4th quarter. Deutsche Bank AG now owns 82,967 shares of the biotechnology company’s stock worth $266,000 after purchasing an additional 49,904 shares during the period. 23.00% of the stock is currently 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 drug candidates for the treatment of Alzheimer's disease, other central nervous system diseases, pain, and various cancers. The company's lead drug candidates include ANAVEX 2-73, which has completed Phase IIa clinical trials for the treatment of Alzheimer's disease; and in preclinical clinical trials to treat Parkinson's disease, epilepsy, Rett syndrome, Angelman syndrome, multiple sclerosis, and Fragile X syndrome.

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