Anavex Life Sciences Corp. (NASDAQ: AVXL) stock fell -4.78% on Friday to $7.57 against a previous-day closing price of $7.95. With 2.94 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.84 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $8.03 whereas the lowest price it dropped to was $7.55. The 52-week range on AVXL shows that it touched its highest point at $15.24 and its lowest point at $7.44 during that stretch. It currently has a 1-year price target of $47.75. Beta for the stock currently stands at 0.68.
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 -3.81%, but this was down by -12.18% over a month. Three-month performance dropped to -14.27% while six-month performance fell -20.65%. The stock lost -21.31% in the past year, while it has lost -18.25% so far this year. A look at the trailing 12-month EPS for AVXL yields -0.66 with Next year EPS estimates of -0.65. For the next quarter, that number is -0.15. This implies an EPS growth rate of -14.90% for this year and -3.20% for next year.
Float and Shares Shorts:
At present, 80.88 million AVXL shares are outstanding with a float of 79.37 million shares on hand for trading. On Aug 30, 2023, short shares totaled 16.88 million, which was 20.60% higher than short shares on Jul 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 33.90% of AVXL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.18% of AVXL, in contrast to 18.07% held by mutual funds. Shares owned by individuals account for 12.92%. As the largest shareholder in AVXL with 6.44% of the stake, BlackRock Fund Advisors holds 5,280,658 shares worth 5,280,658. A second-largest stockholder of AVXL, SSgA Funds Management, Inc., holds 4,408,937 shares, controlling over 5.38% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in AVXL, holding 4,004,356 shares or 4.89% stake. With a 3.69% stake in AVXL, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 3,027,061 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.77% of AVXL stock, is the second-largest Mutual Fund holder. It holds 2,266,872 shares valued at 17.91 million. iShares Russell 2000 ETF holds 1.93% of the stake in AVXL, owning 1,582,355 shares worth 12.5 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 Jun 29, 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 $39.00, the average target price over the next 12 months is $47.75. Based on these targets, AVXL could surge 666.18% to reach the target high and rise by 415.19% to reach the target low. Reaching the average price target will result in a growth of 530.78% 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 2 Buys and 1 Sells. In these transactions, 500,000 shares were bought while 268,000 shares were sold. The number of buy transactions has increased to 2 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 500,000 while 268,000 shares were sold.