Anavex Life Sciences (NASDAQ:AVXL) Announces Earnings Results

Anavex Life Sciences (NASDAQ:AVXL) posted its earnings results on Thursday. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01, FiscalAI reports.

Anavex Life Sciences Stock Performance

Shares of Anavex Life Sciences stock traded up $0.10 on Thursday, reaching $2.58. 856,545 shares of the stock were exchanged, compared to its average volume of 1,337,731. Anavex Life Sciences has a one year low of $2.26 and a one year high of $12.68. The firm has a market cap of $239.55 million, a PE ratio of -5.62 and a beta of 1.14. The firm’s 50 day moving average is $2.61 and its 200-day moving average is $3.46.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Anavex Life Sciences

Several institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new position in shares of Anavex Life Sciences during the fourth quarter worth approximately $104,000. NewEdge Advisors LLC raised its stake in Anavex Life Sciences by 1,636.2% in the fourth quarter. NewEdge Advisors LLC now owns 28,231 shares of the biotechnology company’s stock valued at $101,000 after purchasing an additional 26,605 shares in the last quarter. XTX Topco Ltd raised its position in Anavex Life Sciences by 21.2% in the 4th quarter. XTX Topco Ltd now owns 99,058 shares of the biotechnology company’s stock worth $353,000 after purchasing an additional 17,356 shares during the period. Man Group plc boosted its holdings in shares of Anavex Life Sciences by 126.5% during the fourth quarter. Man Group plc now owns 55,223 shares of the biotechnology company’s stock worth $197,000 after purchasing an additional 30,838 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Anavex Life Sciences in the 4th quarter valued at approximately $164,000. 31.55% of the stock is 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.