Anavex Life Sciences (NASDAQ:AVXL) Raised to “Strong-Buy” at EF Hutton Acquisition Co. I

EF Hutton Acquisition Co. I upgraded shares of Anavex Life Sciences (NASDAQ:AVXL) to a strong-buy rating in a research report released on Monday morning, Zacks.com reports.

Separately, HC Wainwright reissued a buy rating and set a $40.00 price objective on shares of Anavex Life Sciences in a report on Tuesday, June 11th.

Anavex Life Sciences Trading Up 5.9 %

NASDAQ:AVXL opened at $6.84 on Monday. The stock has a market capitalization of $578.94 million, a P/E ratio of -13.68 and a beta of 0.63. Anavex Life Sciences has a 1 year low of $3.25 and a 1 year high of $10.45. The firm has a 50 day moving average of $4.49 and a 200-day moving average of $4.84.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). During the same period in the prior year, the company posted ($0.17) earnings per share. As a group, analysts forecast that Anavex Life Sciences will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Anavex Life Sciences in the second quarter worth about $57,000. Fiduciary Alliance LLC acquired a new stake in shares of Anavex Life Sciences during the 1st quarter worth approximately $67,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Anavex Life Sciences by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,773 shares of the biotechnology company’s stock worth $80,000 after buying an additional 6,275 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in Anavex Life Sciences in the fourth quarter valued at approximately $93,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Anavex Life Sciences by 32.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,637 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 2,594 shares during the period. Institutional investors own 31.55% of the company’s stock.

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.