Anavex Life Sciences Corp. (AVXL) looking to reclaim success with recent performance

Anavex Life Sciences Corp. (NASDAQ: AVXL) stock jumped 1.65% on Monday to $10.47 against a previous-day closing price of $10.30. With 0.97 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.34 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $10.57 whereas the lowest price it dropped to was $10.13. The 52-week range on AVXL shows that it touched its highest point at $15.24 and its lowest point at $7.13 during that stretch. It currently has a 1-year price target of $48.80. Beta for the stock currently stands at 0.75.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AVXL was down-trending over the past week, with a drop of -1.04%, but this was up by 20.21% over a month. Three-month performance dropped to -6.10% while six-month performance fell -6.27%. The stock lost -17.23% in the past year, while it has gained 13.07% so far this year. A look at the trailing 12-month EPS for AVXL yields -0.62 with Next year EPS estimates of -0.53. For the next quarter, that number is -0.19. This implies an EPS growth rate of -14.90% for this year and 28.80% for next year.

Float and Shares Shorts:

At present, 77.95 million AVXL shares are outstanding with a float of 75.61 million shares on hand for trading. On Oct 13, 2022, short shares totaled 10.04 million, which was 12.89% higher than short shares on Sep 14, 2022. In addition to Dr. Christopher U. Missling M.B.A., M.S., Ph.D. as the firm’s Chairman, Pres, CEO & Sec., Ms. Sandra Boenisch CPA, CPA, CGA serves as its Principal Financial Officer & Treasurer.


Institutional Ownership:

Through their ownership of 32.80% of AVXL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.01% of AVXL, in contrast to 20.69% held by mutual funds. Shares owned by individuals account for 11.02%. As the largest shareholder in AVXL with 6.12% of the stake, BlackRock Fund Advisors holds 4,772,489 shares worth 4,772,489. A second-largest stockholder of AVXL, SSgA Funds Management, Inc., holds 4,361,438 shares, controlling over 5.59% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in AVXL, holding 3,921,738 shares or 5.03% stake. With a 5.85% stake in AVXL, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 4,560,707 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.91% of AVXL stock, is the second-largest Mutual Fund holder. It holds 2,266,872 shares valued at 20.99 million. iShares Russell 2000 ETF holds 1.98% of the stake in AVXL, owning 1,542,210 shares worth 14.28 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AVXL since 5 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AVXL analysts setting a high price target of $80.00 and a low target of $35.00, the average target price over the next 12 months is $48.80. Based on these targets, AVXL could surge 664.09% to reach the target high and rise by 234.29% to reach the target low. Reaching the average price target will result in a growth of 366.09% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AVXL will report FY 2023 earnings on 12/12/2023. Analysts have provided yearly estimates in a range of -$0.64 being high and -$0.86 being low. For AVXL, this leads to a yearly average estimate of -$0.76. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Anavex Life Sciences Corp. surprised analysts by -$0.01 when it reported -$0.18 EPS against a consensus estimate of -$0.17. The surprise factor in the prior quarter was -$0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.18 and the low estimate is -$0.20. The average estimate for the next quarter is thus -$0.19.

Summary of Insider Activity:

Insiders traded AVXL stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 50,000 while 50,000 shares were sold.

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