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

Anavex Life Sciences (NASDAQ:AVXL) issued its earnings results on Tuesday. The biotechnology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.16, FiscalAI reports.

Anavex Life Sciences Stock Performance

NASDAQ:AVXL traded down $0.14 on Friday, reaching $2.99. The company’s stock had a trading volume of 892,752 shares, compared to its average volume of 1,286,751. Anavex Life Sciences has a 1-year low of $2.26 and a 1-year high of $10.40. The business’s 50-day moving average price is $2.83 and its two-hundred day moving average price is $3.24. The firm has a market cap of $277.17 million, a PE ratio of -19.93 and a beta of 1.15.

Hedge Funds Weigh In On Anavex Life Sciences

Institutional investors have recently modified their holdings of the business. Bank of Montreal Can lifted its stake in Anavex Life Sciences by 41.3% in the fourth quarter. Bank of Montreal Can now owns 32,440 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 9,485 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Anavex Life Sciences during the third quarter worth $114,000. Sei Investments Co. acquired a new stake in shares of Anavex Life Sciences during the second quarter worth $107,000. Hsbc Holdings PLC bought a new stake in Anavex Life Sciences in the 4th quarter valued at $104,000. Finally, NewEdge Advisors LLC boosted its stake in Anavex Life Sciences by 1,636.2% in the 4th quarter. NewEdge Advisors LLC now owns 28,231 shares of the biotechnology company’s stock worth $101,000 after purchasing an additional 26,605 shares during the period. Institutional investors own 31.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on AVXL shares. Rodman & Renshaw began coverage on shares of Anavex Life Sciences in a research note on Monday, May 4th. They set a “buy” rating and a $20.00 price objective on the stock. Weiss Ratings downgraded shares of Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.33.

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.