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Can Anavex (AVXL) Run Higher on Strong Earnings Estimate Revisions?

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Anavex Life Sciences Corp. (AVXL - Free Report) is a clinical stage biopharmaceutical company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AVXL’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Anavex could be a solid choice for investors.

Current Quarter Estimates for AVXL

In the past 30 days, 1 estimate has gone higher for Anavex while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 10 cents a share 30 days ago, to a loss of 9 cents today, a move of 10%.

Current Year Estimates for AVXL

Meanwhile, Anavex’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 44 cents per share 30 days ago to a loss of 38 cents per share today, an increase of 13.6%.

Bottom Line

The stock has also started to move higher lately, adding 12.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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