ValuEngine upgraded shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

A number of other brokerages have also recently commented on AVXL. Zacks Investment Research upgraded shares of Anavex Life Sciences Corp. from a hold rating to a buy rating and set a $7.00 price target for the company in a research note on Wednesday, April 12th. Noble Financial restated a buy rating on shares of Anavex Life Sciences Corp. in a research note on Sunday, May 14th. Finally, Maxim Group set a $15.00 price target on shares of Anavex Life Sciences Corp. and gave the stock a buy rating in a research note on Monday, May 22nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Anavex Life Sciences Corp. has a consensus rating of Buy and a consensus price target of $11.94.

Shares of Anavex Life Sciences Corp. (NASDAQ AVXL) traded up 1.53% during midday trading on Thursday, hitting $3.99. The stock had a trading volume of 189,850 shares. Anavex Life Sciences Corp. has a one year low of $2.43 and a one year high of $6.64. The stock has a 50 day moving average of $5.12 and a 200-day moving average of $5.47. The company’s market cap is $165.09 million.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Park West Asset Management LLC boosted its position in shares of Anavex Life Sciences Corp. by 97.5% in the first quarter. Park West Asset Management LLC now owns 2,962,090 shares of the biotechnology company’s stock worth $17,002,000 after buying an additional 1,462,090 shares in the last quarter. Vanguard Group Inc. boosted its position in Anavex Life Sciences Corp. by 13.1% in the first quarter. Vanguard Group Inc. now owns 1,485,681 shares of the biotechnology company’s stock worth $8,528,000 after buying an additional 171,577 shares during the period. State Street Corp boosted its position in Anavex Life Sciences Corp. by 27.2% in the fourth quarter. State Street Corp now owns 391,065 shares of the biotechnology company’s stock worth $1,549,000 after buying an additional 83,716 shares during the period. Geode Capital Management LLC boosted its position in Anavex Life Sciences Corp. by 16.8% in the first quarter. Geode Capital Management LLC now owns 276,974 shares of the biotechnology company’s stock worth $1,589,000 after buying an additional 39,934 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Anavex Life Sciences Corp. by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 111,880 shares of the biotechnology company’s stock worth $642,000 after buying an additional 5,826 shares during the period. Hedge funds and other institutional investors own 22.83% of the company’s stock.

About Anavex Life Sciences Corp.

Anavex Life Sciences Corp., is a clinical-stage biopharmaceutical company engaged in the development of drug candidates. The Company’s lead compounds include ANAVEX 2-73, ANAVEX PLUS, a combination of ANAVEX 2-73 with donepezil (Aricept), ANAVEX 19-144, ANAVEX 1-41, ANAVEX 7-1037, ANAVEX 3-71, ANAVEX 1079, ANAVEX 1519 and ANAVEX 1066 being developed to treat Alzheimer’s disease and other central nervous system (CNS) diseases.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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