Anavex Life Sciences Corp. (NASDAQ:AVXL – Get Free Report) shares dropped 4.1% on Thursday after HC Wainwright lowered their price target on the stock from $54.00 to $40.00. HC Wainwright currently has a buy rating on the stock. Anavex Life Sciences traded as low as $6.21 and last traded at $6.26. Approximately 1,311,138 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 4,615,217 shares. The stock had previously closed at $6.53.
Separately, StockNews.com initiated coverage on shares of Anavex Life Sciences in a research note on Thursday, October 5th. They set a “sell” rating for the company.
Hedge Funds Weigh In On Anavex Life Sciences
Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in Anavex Life Sciences by 32.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,449 shares of the biotechnology company’s stock worth $44,000 after buying an additional 1,348 shares in the last quarter. Orion Capital Management LLC purchased a new position in Anavex Life Sciences in the 3rd quarter worth approximately $59,000. Quantbot Technologies LP bought a new stake in shares of Anavex Life Sciences in the 2nd quarter worth approximately $64,000. Natixis bought a new stake in shares of Anavex Life Sciences in the 2nd quarter worth approximately $65,000. Finally, Fiduciary Alliance LLC bought a new stake in shares of Anavex Life Sciences in the 2nd quarter worth approximately $75,000. Hedge funds and other institutional investors own 30.79% of the company’s stock.
Anavex Life Sciences Stock Down 4.1 %
The stock’s fifty day moving average price is $7.30 and its two-hundred day moving average price is $7.49.
Anavex Life Sciences (NASDAQ:AVXL – Get Free Report) last announced its quarterly earnings data on Monday, November 27th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. During the same quarter in the prior year, the business earned ($0.18) earnings per share. On average, research analysts predict that Anavex Life Sciences Corp. will post -0.56 earnings per share for the current year.
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.