Anavex Life Sciences (NASDAQ:AVXL) Shares Gap Up – Time to Buy?

Anavex Life Sciences Corp. (NASDAQ:AVXL) shares gapped up prior to trading on Tuesday . The stock had previously closed at $9.13, but opened at $10.30. Anavex Life Sciences shares last traded at $9.60, with a volume of 742,967 shares traded.

Analysts Set New Price Targets

AVXL has been the topic of a number of recent analyst reports. D. Boral Capital restated a “buy” rating and set a $46.00 target price on shares of Anavex Life Sciences in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of Anavex Life Sciences in a research note on Monday, November 4th.

Anavex Life Sciences Trading Down 0.8 %

The company has a market cap of $768.29 million, a P/E ratio of -18.26 and a beta of 0.60. The company has a 50-day simple moving average of $6.46 and a 200 day simple moving average of $5.58.

Institutional Investors Weigh In On Anavex Life Sciences

Institutional investors and hedge funds have recently bought and sold shares of the company. PVG Asset Management Corp purchased a new position in Anavex Life Sciences during the 3rd quarter valued at about $74,000. Barclays PLC increased its holdings in Anavex Life Sciences by 70.4% during the third quarter. Barclays PLC now owns 155,179 shares of the biotechnology company’s stock valued at $882,000 after buying an additional 64,101 shares during the period. Orion Capital Management LLC raised its stake in Anavex Life Sciences by 666.7% in the third quarter. Orion Capital Management LLC now owns 11,500 shares of the biotechnology company’s stock worth $65,000 after buying an additional 10,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Anavex Life Sciences by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,883,199 shares of the biotechnology company’s stock worth $10,699,000 after purchasing an additional 51,946 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in Anavex Life Sciences in the third quarter worth about $102,000. 31.55% of the stock is owned by institutional investors.

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.