Anavex Life Sciences (NASDAQ:AVXL) Announces Earnings Results

Anavex Life Sciences (NASDAQ:AVXL) announced its quarterly earnings data on Tuesday. The biotechnology company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08), FiscalAI reports.

Anavex Life Sciences Price Performance

Shares of NASDAQ AVXL opened at $3.24 on Thursday. Anavex Life Sciences has a one year low of $2.26 and a one year high of $10.40. The business’s 50-day moving average price is $2.82 and its two-hundred day moving average price is $3.24. The company has a market capitalization of $300.35 million, a P/E ratio of -21.60 and a beta of 1.15.

Institutional Investors Weigh In On Anavex Life Sciences

Several institutional investors have recently made changes to their positions in AVXL. State of Wyoming bought a new stake in shares of Anavex Life Sciences in the 2nd quarter valued at approximately $26,000. Quarry LP bought a new position in Anavex Life Sciences during the third quarter valued at approximately $36,000. Russell Investments Group Ltd. raised its position in Anavex Life Sciences by 11,540.0% during the third quarter. Russell Investments Group Ltd. now owns 6,984 shares of the biotechnology company’s stock valued at $62,000 after acquiring an additional 6,924 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Anavex Life Sciences in the second quarter valued at approximately $95,000. Finally, Sei Investments Co. acquired a new stake in Anavex Life Sciences in the second quarter valued at approximately $107,000. 31.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVXL has been the subject of a number of research analyst reports. Rodman & Renshaw assumed coverage on shares of Anavex Life Sciences in a research report on Monday, May 4th. They issued a “buy” rating and a $20.00 price target for the company. Weiss Ratings downgraded shares of Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Anavex Life Sciences has an average rating of “Hold” and a consensus target price of $21.33.

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.