Kovack Advisors Inc. Purchases New Position in Anavex Life Sciences Corp. $AVXL

Kovack Advisors Inc. bought a new stake in shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,100 shares of the biotechnology company’s stock, valued at approximately $93,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVXL. Vanguard Group Inc. lifted its position in Anavex Life Sciences by 4.7% during the first quarter. Vanguard Group Inc. now owns 4,902,246 shares of the biotechnology company’s stock valued at $42,061,000 after purchasing an additional 221,802 shares during the last quarter. Private Advisor Group LLC lifted its position in Anavex Life Sciences by 617.5% during the first quarter. Private Advisor Group LLC now owns 214,725 shares of the biotechnology company’s stock valued at $1,842,000 after purchasing an additional 184,800 shares during the last quarter. Swiss National Bank bought a new position in shares of Anavex Life Sciences in the 1st quarter valued at about $1,411,000. Arizona State Retirement System bought a new position in shares of Anavex Life Sciences in the 1st quarter valued at about $208,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Anavex Life Sciences in the 1st quarter valued at about $194,000. 31.55% of the stock is currently owned by institutional investors.

Anavex Life Sciences Trading Down 2.9%

NASDAQ:AVXL opened at $7.74 on Tuesday. Anavex Life Sciences Corp. has a twelve month low of $6.62 and a twelve month high of $14.44. The stock has a fifty day simple moving average of $9.03 and a 200-day simple moving average of $9.35. The company has a market cap of $664.79 million, a price-to-earnings ratio of -13.58 and a beta of 0.92.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). As a group, equities research analysts predict that Anavex Life Sciences Corp. will post -0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AVXL has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Anavex Life Sciences in a research note on Wednesday, October 8th. Wall Street Zen lowered Anavex Life Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 23rd. Jones Trading downgraded Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, October 24th. D. Boral Capital restated a “buy” rating and issued a $46.00 price target on shares of Anavex Life Sciences in a research report on Wednesday, October 29th. Finally, HC Wainwright restated a “buy” rating and issued a $42.00 target price on shares of Anavex Life Sciences in a report on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of therapeutics for the treatment of central nervous system diseases. Its lead product candidate is ANAVEX 2-73 for the treatment of Alzheimer's disease and Parkinson's disease, as well as other central nervous system diseases, including rare diseases, such as Rett syndrome, a rare severe neurological monogenic disorder; and infantile spasms, Fragile X syndrome, and Angelman syndrome.