Anavex Life Sciences Corp. (NASDAQ:AVXL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “ANAVEX LIFE SCIENCES CORP. is an emerging biopharmaceutical company engaged in the discovery and development of novel drug targets for the treatment of cancer and neurological diseases. The company’s proprietary SIGMACEPTOR Discovery Platform involves the rational drug design of compounds that fulfill specific criteria based on unmet market needs and new scientific advances. Selected drug candidates demonstrate high, non-exclusive affinity for sigma receptors, which are involved in the modulation of multiple cellular biochemical signaling pathways. “

AVXL has been the topic of a number of other reports. Maxim Group set a $15.00 target price on shares of Anavex Life Sciences Corp. and gave the stock a “buy” rating in a research note on Monday, August 7th. ValuEngine downgraded shares of Anavex Life Sciences Corp. from a “hold” rating to a “sell” rating in a research note on Friday, June 30th. Finally, Noble Financial reissued a “buy” rating on shares of Anavex Life Sciences Corp. in a research note on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Anavex Life Sciences Corp. presently has an average rating of “Buy” and an average target price of $11.63.

Anavex Life Sciences Corp. (NASDAQ AVXL) opened at 4.43 on Friday. The company’s 50-day moving average is $4.59 and its 200 day moving average is $5.16. Anavex Life Sciences Corp. has a one year low of $2.43 and a one year high of $6.30. The company’s market capitalization is $186.82 million.

Anavex Life Sciences Corp. (NASDAQ:AVXL) last issued its earnings results on Monday, August 7th. The biotechnology company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). On average, equities analysts anticipate that Anavex Life Sciences Corp. will post ($0.38) earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in AVXL. Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $642,000 after purchasing an additional 5,826 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Anavex Life Sciences Corp. in the first quarter valued at approximately $105,000. American International Group Inc. grew its holdings in shares of Anavex Life Sciences Corp. by 7.1% in the first quarter. American International Group Inc. now owns 20,103 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,329 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 valued at $8,528,000 after purchasing an additional 171,577 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of 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 valued at $1,589,000 after purchasing an additional 39,934 shares in the last quarter. Hedge funds and other institutional investors own 24.41% of the company’s stock.

Anavex Life Sciences Corp. Company Profile

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.

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