Anavex Life Sciences (NASDAQ:AVXL) Posts Quarterly Earnings Results, Hits Estimates

Anavex Life Sciences (NASDAQ:AVXL) issued its quarterly earnings results on Tuesday. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15), Yahoo Finance reports. During the same quarter in the previous year, the company posted ($0.10) earnings per share.

AVXL stock traded up $1.02 during midday trading on Thursday, reaching $18.99. 1,391,200 shares of the company were exchanged, compared to its average volume of 2,249,869. Anavex Life Sciences has a 1-year low of $4.51 and a 1-year high of $31.50. The stock’s 50-day simple moving average is $19.02 and its 200 day simple moving average is $18.77. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -39.56 and a beta of 0.68.

AVXL has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a research note on Wednesday, October 13th. HC Wainwright reiterated a “buy” rating and issued a $39.00 price target on shares of Anavex Life Sciences in a research note on Thursday, October 14th. Finally, BTIG Research reiterated a “buy” rating and issued a $34.00 price target on shares of Anavex Life Sciences in a research note on Thursday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $29.89.

Hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley raised its holdings in Anavex Life Sciences by 218.3% during the second quarter. Morgan Stanley now owns 271,673 shares of the biotechnology company’s stock worth $6,211,000 after purchasing an additional 186,329 shares in the last quarter. UBS Group AG increased its holdings in shares of Anavex Life Sciences by 2,688.8% in the 3rd quarter. UBS Group AG now owns 179,013 shares of the biotechnology company’s stock valued at $3,213,000 after acquiring an additional 172,594 shares during the period. Millennium Management LLC increased its holdings in shares of Anavex Life Sciences by 28.7% in the 3rd quarter. Millennium Management LLC now owns 127,359 shares of the biotechnology company’s stock valued at $2,286,000 after acquiring an additional 28,391 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Anavex Life Sciences by 58.7% in the 2nd quarter. Wells Fargo & Company MN now owns 90,901 shares of the biotechnology company’s stock valued at $2,078,000 after acquiring an additional 33,617 shares during the period. Finally, LPL Financial LLC increased its holdings in shares of Anavex Life Sciences by 75.7% in the 3rd quarter. LPL Financial LLC now owns 20,688 shares of the biotechnology company’s stock valued at $371,000 after acquiring an additional 8,913 shares during the period. 28.86% of the stock is currently owned by institutional investors.

About Anavex Life Sciences

Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound, ANAVEX2-73, is being developed to treat Alzheimer’s and Parkinson’s disease and central nervous system diseases, including Rett syndrome.

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Earnings History for Anavex Life Sciences (NASDAQ:AVXL)

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