Anavex Life Sciences (NASDAQ:AVXL) Reaches New 52-Week Low – Should You Sell?

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) reached a new 52-week low during trading on Friday . The stock traded as low as $7.11 and last traded at $7.3280, with a volume of 454090 shares trading hands. The stock had previously closed at $7.40.

Wall Street Analyst Weigh In

AVXL has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anavex Life Sciences in a research note on Wednesday, October 8th. Jones Trading lowered Anavex Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, October 24th. HC Wainwright restated a “buy” rating and issued a $42.00 target price on shares of Anavex Life Sciences in a research note on Tuesday, October 7th. Wall Street Zen lowered Anavex Life Sciences from a “hold” rating to a “sell” rating in a report on Saturday, August 23rd. Finally, D. Boral Capital reissued a “buy” rating and issued a $46.00 price target on shares of Anavex Life Sciences in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Anavex Life Sciences presently has a consensus rating of “Hold” and an average price target of $44.00.

Anavex Life Sciences Trading Up 1.3%

The stock’s fifty day simple moving average is $8.91 and its 200 day simple moving average is $9.31. The company has a market cap of $643.75 million, a price-to-earnings ratio of -13.13 and a beta of 0.92.

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

Institutional Trading of Anavex Life Sciences

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Anavex Life Sciences by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 4,902,246 shares of the biotechnology company’s stock valued at $42,061,000 after acquiring an additional 221,802 shares during the period. Geode Capital Management LLC raised its position in Anavex Life Sciences by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,019,795 shares of the biotechnology company’s stock valued at $18,624,000 after purchasing an additional 54,985 shares in the last quarter. Nwam LLC boosted its stake in shares of Anavex Life Sciences by 2.4% in the 2nd quarter. Nwam LLC now owns 1,024,479 shares of the biotechnology company’s stock valued at $9,446,000 after buying an additional 24,128 shares during the period. Invesco Ltd. grew its position in shares of Anavex Life Sciences by 55.8% during the second quarter. Invesco Ltd. now owns 863,959 shares of the biotechnology company’s stock worth $7,966,000 after buying an additional 309,605 shares in the last quarter. Finally, LPL Financial LLC increased its stake in shares of Anavex Life Sciences by 482.1% during the first quarter. LPL Financial LLC now owns 546,626 shares of the biotechnology company’s stock worth $4,690,000 after buying an additional 452,723 shares during the period. Institutional investors and hedge funds own 31.55% of the company’s stock.

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.