Anavex Life Sciences (AVXL) Stock Price Up 8.2%

Anavex Life Sciences Corp (NASDAQ:AVXL) rose 8.2% during mid-day trading on Tuesday . The company traded as high as $3.95 and last traded at $3.70. Approximately 763,592 shares were traded during mid-day trading, an increase of 131% from the average daily volume of 330,568 shares. The stock had previously closed at $3.42.

AVXL has been the subject of a number of recent analyst reports. Roth Capital set a $10.00 target price on shares of Anavex Life Sciences and gave the company a “buy” rating in a report on Friday, February 8th. ValuEngine upgraded shares of Anavex Life Sciences from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Finally, Zacks Investment Research upgraded shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Anavex Life Sciences currently has an average rating of “Buy” and an average target price of $7.50.

The company has a market capitalization of $172.39 million, a PE ratio of -9.49 and a beta of 2.47.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. Analysts predict that Anavex Life Sciences Corp will post -0.67 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in Anavex Life Sciences by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 291,948 shares of the biotechnology company’s stock worth $455,000 after buying an additional 3,687 shares during the period. Wells Fargo & Company MN grew its stake in Anavex Life Sciences by 10.0% during the first quarter. Wells Fargo & Company MN now owns 59,567 shares of the biotechnology company’s stock worth $181,000 after buying an additional 5,428 shares during the period. Morgan Stanley grew its stake in Anavex Life Sciences by 156.8% during the first quarter. Morgan Stanley now owns 19,538 shares of the biotechnology company’s stock worth $59,000 after buying an additional 11,931 shares during the period. Jane Street Group LLC purchased a new stake in Anavex Life Sciences during the first quarter worth approximately $39,000. Finally, Wedbush Securities Inc. purchased a new stake in Anavex Life Sciences during the first quarter worth approximately $43,000. Institutional investors own 14.58% of the company’s stock.

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Anavex Life Sciences Company Profile (NASDAQ:AVXL)

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of central nervous system diseases. The company's lead drug candidate is ANAVEX 2-73, which has completed Phase 2a clinical trial for Alzheimer's disease; and preclinical clinical trials to treat Parkinson's disease, Rett syndrome, epilepsy, infantile spasms, Fragile X syndrome, Angelman syndrome, multiple sclerosis, and tuberous sclerosis.

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