Anavex Life Sciences (NASDAQ:AVXL) Announces Quarterly Earnings Results

Anavex Life Sciences (NASDAQ:AVXL) announced its earnings results on Monday. The biotechnology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04, FiscalAI reports.

Anavex Life Sciences Stock Up 7.6%

Shares of NASDAQ AVXL opened at $4.10 on Monday. The firm has a market cap of $366.34 million, a PE ratio of -7.59 and a beta of 1.21. The business has a fifty day simple moving average of $4.28 and a two-hundred day simple moving average of $7.08. Anavex Life Sciences has a twelve month low of $2.86 and a twelve month high of $13.99.

Analyst Upgrades and Downgrades

AVXL has been the subject of a number of recent analyst reports. Jones Trading lowered Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, October 24th. D. Boral Capital reaffirmed a “buy” rating and set a $24.00 price target on shares of Anavex Life Sciences in a report on Tuesday, January 6th. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Anavex Life Sciences in a research report on Friday, December 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Anavex Life Sciences in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Anavex Life Sciences currently has an average rating of “Hold” and a consensus target price of $22.00.

Institutional Investors Weigh In On Anavex Life Sciences

Several institutional investors have recently bought and sold shares of AVXL. XTX Topco Ltd purchased a new stake in Anavex Life Sciences in the third quarter valued at about $727,000. Verition Fund Management LLC boosted its holdings in Anavex Life Sciences by 109.8% during the third quarter. Verition Fund Management LLC now owns 68,859 shares of the biotechnology company’s stock worth $613,000 after buying an additional 36,039 shares in the last quarter. Quarry LP purchased a new position in Anavex Life Sciences during the third quarter worth approximately $36,000. Brevan Howard Capital Management LP purchased a new position in Anavex Life Sciences during the third quarter valued at $153,000. Finally, Bank of America Corp DE lifted its position in shares of Anavex Life Sciences by 3.7% in the third quarter. Bank of America Corp DE now owns 170,886 shares of the biotechnology company’s stock valued at $1,521,000 after acquiring an additional 6,157 shares in the last quarter. 31.55% of the stock is currently owned by institutional investors and hedge funds.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.