Anavex Life Sciences Corp (AVXL) Expected to Post Earnings of -$0.14 Per Share

Analysts expect Anavex Life Sciences Corp (NASDAQ:AVXL) to post ($0.14) earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have issued estimates for Anavex Life Sciences’ earnings. Anavex Life Sciences reported earnings of ($0.06) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 133.3%. The firm is expected to report its next quarterly earnings results on Thursday, August 8th.

According to Zacks, analysts expect that Anavex Life Sciences will report full-year earnings of ($0.58) per share for the current year. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Anavex Life Sciences.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01.

A number of brokerages have recently issued reports on AVXL. Zacks Investment Research cut shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Roth Capital set a $10.00 price objective on shares of Anavex Life Sciences and gave the company a “buy” rating in a report on Friday, February 8th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $7.40.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVXL. AllSquare Wealth Management LLC grew its position in shares of Anavex Life Sciences by 98.3% during the 1st quarter. AllSquare Wealth Management LLC now owns 32,390 shares of the biotechnology company’s stock worth $99,000 after purchasing an additional 16,060 shares in the last quarter. Hikari Power Ltd grew its position in shares of Anavex Life Sciences by 17.6% during the 1st quarter. Hikari Power Ltd now owns 174,080 shares of the biotechnology company’s stock worth $531,000 after purchasing an additional 26,000 shares in the last quarter. Wedbush Securities Inc. acquired a new position in shares of Anavex Life Sciences during the 1st quarter worth approximately $43,000. Virtu Financial LLC acquired a new position in shares of Anavex Life Sciences during the 1st quarter worth approximately $152,000. Finally, Edge Wealth Management LLC grew its position in shares of Anavex Life Sciences by 200.0% during the 1st quarter. Edge Wealth Management LLC now owns 30,000 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 20,000 shares in the last quarter. 14.54% of the stock is currently owned by institutional investors.

Shares of NASDAQ AVXL traded up $0.02 during mid-day trading on Thursday, reaching $3.07. 359,799 shares of the company’s stock traded hands, compared to its average volume of 309,196. The stock has a market capitalization of $145.76 million, a P/E ratio of -7.87 and a beta of 2.47. Anavex Life Sciences has a 1-year low of $1.25 and a 1-year high of $4.35.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of central nervous system diseases. The company's lead drug candidate is ANAVEX 2-73, which has completed Phase 2a clinical trial for Alzheimer's disease; and preclinical clinical trials to treat Parkinson's disease, Rett syndrome, epilepsy, infantile spasms, Fragile X syndrome, Angelman syndrome, multiple sclerosis, and tuberous sclerosis.

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