Anavex Life Sciences (NASDAQ:AVXL) Releases Earnings Results, Beats Expectations By $0.04 EPS

Anavex Life Sciences (NASDAQ:AVXL) released its earnings results on Monday. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04, FiscalAI reports.

Anavex Life Sciences Stock Up 7.6%

NASDAQ AVXL opened at $4.10 on Monday. Anavex Life Sciences has a twelve month low of $2.86 and a twelve month high of $13.99. The stock has a fifty day simple moving average of $4.28 and a 200 day simple moving average of $7.08. The company has a market capitalization of $366.34 million, a price-to-earnings ratio of -7.59 and a beta of 1.21.

Analyst Ratings Changes

A number of brokerages have issued reports on AVXL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anavex Life Sciences in a research note on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Anavex Life Sciences in a report on Friday, December 19th. D. Boral Capital reiterated a “buy” rating and set a $24.00 price target on shares of Anavex Life Sciences in a research report on Tuesday, January 6th. Finally, Jones Trading cut shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, October 24th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in Anavex Life Sciences in the 3rd quarter valued at $727,000. Verition Fund Management LLC grew its holdings in Anavex Life Sciences by 109.8% during the 3rd quarter. Verition Fund Management LLC now owns 68,859 shares of the biotechnology company’s stock valued at $613,000 after buying an additional 36,039 shares in the last quarter. Quarry LP purchased a new stake in shares of Anavex Life Sciences in the third quarter worth $36,000. Brevan Howard Capital Management LP purchased a new stake in shares of Anavex Life Sciences in the 3rd quarter valued at about $153,000. Finally, Bank of America Corp DE lifted its stake in shares of Anavex Life Sciences by 3.7% in the 3rd quarter. Bank of America Corp DE now owns 170,886 shares of the biotechnology company’s stock valued at $1,521,000 after acquiring an additional 6,157 shares during the last quarter. 31.55% of the stock is owned by institutional investors and hedge funds.

About Anavex Life Sciences

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.