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

Anavex Life Sciences (NASDAQ:AVXL) posted its quarterly earnings results on Wednesday. The biotechnology company reported ($0.15) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.15), Yahoo Finance reports. During the same period last year, the company posted ($0.10) earnings per share.

NASDAQ:AVXL traded up $1.02 during mid-day trading on Thursday, reaching $18.99. The stock had a trading volume of 1,391,200 shares, compared to its average volume of 2,249,869. The stock has a 50-day simple moving average of $19.02 and a two-hundred day simple moving average of $18.77. The stock has a market capitalization of $1.44 billion, a PE ratio of -39.56 and a beta of 0.68. Anavex Life Sciences has a 12 month low of $4.51 and a 12 month high of $31.50.

A number of research analysts have recently weighed in on AVXL shares. Zacks Investment Research raised Anavex Life Sciences from a “sell” rating to a “hold” rating in a research note on Wednesday, October 13th. HC Wainwright restated a “buy” rating and issued a $39.00 price objective on shares of Anavex Life Sciences in a research report on Thursday, October 14th. Finally, BTIG Research reiterated a “buy” rating and set a $35.00 target price on shares of Anavex Life Sciences in a report on Friday, November 19th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $30.04.

A number of large investors have recently made changes to their positions in AVXL. BNP Paribas Arbitrage SA grew its stake in shares of Anavex Life Sciences by 408.4% during the third quarter. BNP Paribas Arbitrage SA now owns 11,414 shares of the biotechnology company’s stock worth $205,000 after buying an additional 9,169 shares during the last quarter. Royal Bank of Canada grew its position in Anavex Life Sciences by 28.9% in the 3rd quarter. Royal Bank of Canada now owns 16,097 shares of the biotechnology company’s stock worth $289,000 after purchasing an additional 3,609 shares in the last quarter. LPL Financial LLC boosted its stake in Anavex Life Sciences by 75.7% in the third 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 last quarter. Wells Fargo & Company MN boosted its stake in Anavex Life Sciences by 58.7% in the second 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 last quarter. Finally, Millennium Management LLC lifted its stake in shares of Anavex Life Sciences by 28.7% during the 3rd quarter. Millennium Management LLC now owns 127,359 shares of the biotechnology company’s stock valued at $2,286,000 after buying an additional 28,391 shares in the last quarter. 28.86% 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, 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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