Anavex Life Sciences (NASDAQ:AVXL) Stock Price Up 8.1% – Still a Buy?

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares rose 8.1% on Friday . The stock traded as high as $9.80 and last traded at $9.76. Approximately 577,913 shares traded hands during trading, a decline of 52% from the average daily volume of 1,204,282 shares. The stock had previously closed at $9.03.

Analysts Set New Price Targets

Several brokerages have recently commented on AVXL. D. Boral Capital reissued a “buy” rating and set a $46.00 price objective on shares of Anavex Life Sciences in a report on Monday. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Anavex Life Sciences in a research report on Wednesday.

Anavex Life Sciences Price Performance

The stock has a market capitalization of $802.21 million, a PE ratio of -19.52 and a beta of 0.60. The business has a 50 day moving average price of $6.67 and a 200 day moving average price of $5.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AVXL. SG Americas Securities LLC bought a new position in shares of Anavex Life Sciences in the second quarter worth about $57,000. Orion Capital Management LLC raised its stake in Anavex Life Sciences by 666.7% during the 3rd quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 10,000 shares during the period. PVG Asset Management Corp purchased a new position in Anavex Life Sciences during the 3rd quarter valued at approximately $74,000. Atria Investments Inc purchased a new position in Anavex Life Sciences during the 3rd quarter valued at approximately $76,000. Finally, Fiduciary Alliance LLC grew its holdings in Anavex Life Sciences by 45.2% during the 2nd quarter. Fiduciary Alliance LLC now owns 19,275 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 6,000 shares in the last quarter. 31.55% of the stock is owned by hedge funds and other institutional investors.

About Anavex Life Sciences

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.