Anavex Life Sciences (NASDAQ:AVXL) Hits New 12-Month High – Time to Buy?

by · The Markets Daily

Anavex Life Sciences Corp. (NASDAQ:AVXL – Get Free Report)’s share price reached a new 52-week high on Monday . The company traded as high as $10.45 and last traded at $9.80, with a volume of 1097190 shares trading hands. The stock had previously closed at $9.24.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. EF Hutton Acquisition Co. I upgraded shares of Anavex Life Sciences to a “strong-buy” rating in a research note on Monday, July 22nd. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Anavex Life Sciences in a research note on Monday, November 4th.

Read Our Latest Analysis on Anavex Life Sciences

Anavex Life Sciences Stock Down 1.4 %

The stock has a market cap of $764.90 million, a price-to-earnings ratio of -18.04 and a beta of 0.60. The business’s 50 day simple moving average is $5.91 and its 200 day simple moving average is $5.29.

Hedge Funds Weigh In On Anavex Life Sciences

A number of institutional investors have recently bought and sold shares of the business. Atria Investments Inc acquired a new stake in shares of Anavex Life Sciences in the third quarter valued at approximately $76,000. SG Americas Securities LLC bought a new stake in Anavex Life Sciences in the 2nd quarter valued at $57,000. China Universal Asset Management Co. Ltd. lifted its holdings in Anavex Life Sciences by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,309 shares of the biotechnology company’s stock valued at $93,000 after purchasing an additional 6,366 shares during the last quarter. Fiduciary Alliance LLC boosted its position in Anavex Life Sciences by 45.2% during the second quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 6,000 shares during the period. Finally, EntryPoint Capital LLC raised its position in shares of Anavex Life Sciences by 371.1% in the first quarter. EntryPoint Capital LLC now owns 20,007 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 15,760 shares during the period. Institutional investors and hedge funds own 31.55% of the company’s stock.

Anavex Life Sciences Company Profile

(Get Free Report)

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.

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