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Anavex Life Sciences Corp.’s (NASDAQ: AVXL) -0.09% Decline Frightens Investors Off The Stock

Anavex Life Sciences Corp. (NASDAQ:AVXL) traded at $11.42 at close of the session on Tuesday, 11/22/22, made a downward move of -0.09% on its previous day’s price.

Looking at the stock we see that its previous close was $11.43 and the beta (5Y monthly) reads 0.75 with the day’s price range being $10.9702 – $11.80. In terms of its 52-week price range, AVXL has a high of $21.30 and a low of $7.13. The company’s stock has lost about -2.97% over that past 30 days.

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Anavex Life Sciences Corp. has a market cap of $897.84 million and is expected to release its quarterly earnings report on Feb 07, 2023 – Feb 13, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.16, with the EPS growth for the year raised at -$0.61 for 2022 and -$0.48 for next year. These figures represent -13.00% and 21.30% growth in EPS for the two years respectively.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the AVXL stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.

Looking further, we note the current price level is -8.51% off its SMA20 and 1.96% from its 50-day simple moving average. The RSI (14) is pointing at 43.85 while the volatility over the past week is 8.48% and jumps to 6.82% over the past one month. The beta value is 0.80, while the average true range (ATR) is currently pointing at 0.93. The average price target for the stock over the next 12 months is $35.33, with the estimates having a low of $16.00 and a high of $42.00. These price ends are -40.11% and -267.78% off the current price level respectively, although investors could be excited at the prospect of a -245.88% if the AVXL share price touches on the median price of $39.50.

Let’s briefly compare Anavex Life Sciences Corp. (AVXL) stock to its peers. We find that current price change of -0.09% and -41.10% over the past 12 months for AVXL competes that of Ligand Pharmaceuticals Incorporated (LGND), which has seen its stock price fall -4.62% in the last trading session and was -29.93% over the last one year. Another of its peers BioCryst Pharmaceuticals Inc. (BCRX) has gained 1.68% previous session, and was 2.01% up over the past year, while Palatin Technologies Inc. (PTN) was also down -6.99% in the last session, while its price remained in the red at -54.92% over the same period. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.36% and 1.18%, respectively, at close of the trading.

Coming back to Anavex Life Sciences Corp. (NASDAQ:AVXL), we note that the average 3-month trading volume was 863.39K, while that of the preceding 10-day period stands at 1.2 million. Current shares outstanding are 77.44 million.

The insiders hold 1.70% of the company’s shares while institutions hold 32.10%. The data shows that short shares as of Oct 13, 2022, stood at 10.04 million at a short ratio of 12.26. This represents a 12.89% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 9.74 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -34.14% down in year-to-date price movement.

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