Shares of biotech firm Anavex Life Sciences Corp. (NASDAQ: AVXL) fell more than 17% in today’s trading session. This can be attributed to its Q4 earnings results.
The company currently has no sales, meaning that analysts are estimating its cash burn. Earnings per share came in at -$0.18, which was lower than the -$0.17 that was expected.
Is AVXL Stock a Good Investment?
AVXL stock has a Strong Buy consensus rating based on four Buys assigned in the past three months. The average AVXL stock price target of $39.25 implies almost 300% upside potential.