Anavex Life Sciences Corp. (NASDAQ: AVXL) stock fell -0.54% on Wednesday to $9.21 against a previous-day closing price of $9.26. With 0.76 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.01 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $9.27 whereas the lowest price it dropped to was $9.06. The 52-week range on AVXL shows that it touched its highest point at $15.24 and its lowest point at $7.36 during that stretch. It currently has a 1-year price target of $47.75. Beta for the stock currently stands at 0.72.
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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 -3.05%, but this was up by 18.53% over a month. Three-month performance dropped to -7.25% while six-month performance fell -19.42%. The stock lost -0.65% in the past year, while it has lost -0.54% so far this year. A look at the trailing 12-month EPS for AVXL yields -0.68 with Next year EPS estimates of -0.63. For the next quarter, that number is -0.17. This implies an EPS growth rate of -14.90% for this year and 10.00% for next year.
Float and Shares Shorts:
At present, 78.30 million AVXL shares are outstanding with a float of 75.61 million shares on hand for trading. On Apr 27, 2023, short shares totaled 14.38 million, which was 18.06% higher than short shares on Mar 30, 2023. 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.
Through their ownership of 34.54% of AVXL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.04% of AVXL, in contrast to 19.74% held by mutual funds. Shares owned by individuals account for 15.06%. As the largest shareholder in AVXL with 7.28% of the stake, SSgA Funds Management, Inc. holds 5,677,376 shares worth 5,677,376. A second-largest stockholder of AVXL, BlackRock Fund Advisors, holds 5,105,800 shares, controlling over 6.54% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in AVXL, holding 3,984,441 shares or 5.11% stake. With a 5.14% stake in AVXL, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 4,007,818 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.91% of AVXL stock, is the second-largest Mutual Fund holder. It holds 2,266,872 shares valued at 18.45 million. iShares Russell 2000 ETF holds 1.87% of the stake in AVXL, owning 1,460,374 shares worth 11.89 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, AVXL reported revenue of $0.00 and operating income of -$12.46M. The EBITDA in the recently reported quarter was -$11.73M and diluted EPS was -$0.16.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AVXL since 0 analysts follow the stock currently. 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 $58.00 and a low target of $28.00, the average target price over the next 12 months is $43.80. Based on these targets, AVXL could surge 529.75% to reach the target high and rise by 204.02% to reach the target low. Reaching the average price target will result in a growth of 375.57% 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.
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.