Anavex Lf SC Down 8.91% To $6.44 After Earnings

Anavex Lf SC (AVXL) said before open Monday that it broke even in quarter four 2023.

In the same quarter a year ago, the company lost $0.18 per share on revenue of $0.00.

The stock is down 8.91% to $6.44 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.

Anavex Lf SC has performed a little below average during the past few months. Before the report, Anavex Lf SC received a Long-Term Technical Rank by InvestorsObserver of 43, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $4.9 on October 23, 2023 and set a 52-week high on December 2, 2022 at $13.23.

Anavex Life Sciences Corp is a clinical-stage biopharmaceutical company engaged in the development of differentiated therapeutics by applying precision medicine to central nervous system diseases with high unmet need. It analyzes genomic data from clinical studies to identify biomarkers, which are used to select patients that will receive the therapeutic benefit for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound ANAVEX 2-73 is being developed to treat Alzheimer's disease, Parkinson's disease, and potentially other central nervous system diseases, including rare diseases, such as Rett syndrome, a rare severe neurological monogenic disorder caused by mutations in the X-linked gene, methyl-CpG-binding protein 2.