Zacks: Brokerages Expect Anavex Life Sciences Corp (AVXL) to Announce -$0.10 Earnings Per Share

Wall Street brokerages expect that Anavex Life Sciences Corp (NASDAQ:AVXL) will report earnings of ($0.10) per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Anavex Life Sciences’ earnings, with the highest EPS estimate coming in at ($0.08) and the lowest estimate coming in at ($0.12). Anavex Life Sciences reported earnings of ($0.12) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.7%. The company is expected to report its next quarterly earnings results on Monday, December 10th.

According to Zacks, analysts expect that Anavex Life Sciences will report full-year earnings of ($0.42) per share for the current year. For the next financial year, analysts anticipate that the company will post earnings of ($0.39) per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Anavex Life Sciences.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings data on Thursday, August 9th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04.

Several research analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Anavex Life Sciences in a research report on Monday, October 22nd. Maxim Group set a $7.00 price target on Anavex Life Sciences and gave the stock a “buy” rating in a research report on Friday, October 26th. Finally, Zacks Investment Research lowered Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $6.60.

AVXL traded up $0.03 during trading on Tuesday, hitting $2.55. 108,716 shares of the stock were exchanged, compared to its average volume of 332,149. The firm has a market cap of $115.85 million, a price-to-earnings ratio of -7.73 and a beta of 1.61. Anavex Life Sciences has a 1-year low of $1.85 and a 1-year high of $4.50.

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC acquired a new stake in Anavex Life Sciences during the second quarter worth about $1,749,000. Paloma Partners Management Co acquired a new stake in Anavex Life Sciences during the second quarter worth about $502,000. LMR Partners LLP acquired a new stake in Anavex Life Sciences during the second quarter worth about $319,000. Jane Street Group LLC acquired a new stake in Anavex Life Sciences during the second quarter worth about $157,000. Finally, Laurion Capital Management LP acquired a new stake in Anavex Life Sciences during the second quarter worth about $134,000. Institutional investors own 20.01% of the company’s stock.

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 Alzheimer's disease, other central nervous system diseases, pain, and various cancers. The company's lead drug candidates include ANAVEX 2-73, which has completed Phase IIa clinical trials for the treatment of Alzheimer's disease; and in preclinical clinical trials to treat Parkinson's disease, epilepsy, Rett syndrome, Angelman syndrome, multiple sclerosis, and Fragile X syndrome.

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