BlackRock Fund Advisors recently announced the acquisition of new stake in Anavex Life Sciences Corporation (NASDAQ:AVXL). The institutional investor has increased its shareholding in the Healthcare company by 1.60% to 5.37 million shares with purchase of 84569.0 shares. This fresh investment now brings its stake to 6.54% valued currently at $38.68 million. In addition, The Vanguard Group, Inc. raised its holdings by 37880.0 to 4.04 million shares. And Geode Capital Management LLC has lifted its position by 1.99% or 30668.0 shares – to 1.57 million shares.
With over 9.19 million Anavex Life Sciences Corporation (AVXL) shares trading Tuesday and a closing price of $6.05 on the day, the dollar volume was approximately $55.6 million. The shares have shown a negative half year performance of -24.53% and its price on 01/02/24 lost nearly -35.07%. Currently, there are 82.07M common shares owned by the public and among those 79.50M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for AVXL have a consensus price objective of $46.50. The analysts have set the share’s price value over the next 12 months at a high of $54.00 and a low of $39.00. The average price target is 86.99% above its recent price level and an upside to the estimated low will see the stock gain 84.49% over that period. But an upside of 88.8% will see the stock hit the forecast high price target while median target price for the stock is $46.50.
Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 500,000 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 268,000 shares.
The top 3 mutual fund holders in Anavex Life Sciences Corporation are SPDR S&P Biotech ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. SPDR S&P Biotech ETF owns 2.38 million shares of the company’s stock, all valued at over $17.16 million. The company bought an additional 11085.0 shares recently to bring their total holdings to about 2.90% of the shares outstanding. iShares Russell 2000 ETF bought 852.0 shares to bring its total holdings to over 1.73 million shares at a value of $12.5 million. iShares Russell 2000 ETF now owns shares totaling to 2.11% of the shares outstanding.
Shares of Anavex Life Sciences Corporation (NASDAQ: AVXL) opened at $5.90, down -$3.41 from a prior closing price of $9.31. However, the script later moved the day high at 6.95, down -35.07%. The company’s stock has a 5-day price change of -32.46% and -4.95% over the past three months. AVXL shares are trading -35.07% year to date (YTD), with the 12-month market performance down to -33.79% lower. It has a 12-month low price of $4.90 and touched a high of $11.93 over the same period. AVXL has an average intraday trading volume of 1.12 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -30.19%, -14.59%, and -23.10% respectively.
Institutional ownership of Anavex Life Sciences Corporation (NASDAQ: AVXL) shares accounts for 30.66% of the company’s 82.07M shares outstanding. Mutual fund holders own 17.35%, while other institutional holders and individual stakeholders account for 3.18% and 13.33% respectively.
It has a market capitalization of $496.23M and a beta (3y monthly) value of 0.69. The earnings-per-share (ttm) stands at -$0.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.41% over the week and 7.25% over the month.
Analysts forecast that Anavex Life Sciences Corporation (AVXL) will achieve an EPS of -$0.15 for the current quarter, -$0.16 for the next quarter and -$0.29 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.17 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.17 a year ago. Earnings per share for the fiscal year are expected to increase by 5.83%, and 100.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Anavex Life Sciences Corporation (AVXL) as a “Strong Buy” at a consensus score of 1.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AVXL, a number of firms have released research notes about the stock. Cantor Fitzgerald stated their Neutral rating for the stock in a research note on December 06, 2022, with the firm’s price target at $16-$11.
